NovoCure Limited (NASDAQ:NVCR) Receives $26.17 Consensus PT from Brokerages

NovoCure Limited (NASDAQ:NVCR) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $26.17.

NVCR has been the subject of several research analyst reports. Wedbush reiterated an “outperform” rating and issued a $24.00 price objective on shares of NovoCure in a report on Thursday, July 25th. Wells Fargo & Company reduced their price target on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Evercore ISI dropped their target price on shares of NovoCure from $21.00 to $18.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. Finally, HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of NovoCure in a research note on Thursday, October 31st.

NovoCure Stock Down 2.4 %

Shares of NovoCure stock opened at $15.73 on Friday. The company has a 50-day simple moving average of $16.56 and a two-hundred day simple moving average of $18.31. NovoCure has a 52-week low of $11.29 and a 52-week high of $24.74. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. The stock has a market capitalization of $1.70 billion, a PE ratio of -11.33 and a beta of 0.71.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.06. The business had revenue of $155.10 million for the quarter, compared to analysts’ expectations of $143.95 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.46) EPS. On average, analysts anticipate that NovoCure will post -1.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NVCR. FMR LLC raised its stake in NovoCure by 0.6% during the 3rd quarter. FMR LLC now owns 16,232,008 shares of the medical equipment provider’s stock worth $253,706,000 after acquiring an additional 90,422 shares during the period. Vanguard Group Inc. raised its position in shares of NovoCure by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 10,023,981 shares of the medical equipment provider’s stock valued at $156,675,000 after purchasing an additional 264,883 shares during the period. Nordwand Advisors LLC lifted its stake in shares of NovoCure by 100.0% during the 3rd quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider’s stock valued at $47,356,000 after buying an additional 1,514,824 shares in the last quarter. Geode Capital Management LLC boosted its holdings in NovoCure by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider’s stock worth $37,601,000 after buying an additional 29,871 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in NovoCure by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,378,940 shares of the medical equipment provider’s stock worth $37,184,000 after buying an additional 125,715 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

NovoCure Company Profile

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company’s TTFields devices include Optune Gio and Optune Lua.