NovoCure Limited (NASDAQ:NVCR) Receives $35.80 Consensus PT from Analysts

Shares of NovoCure Limited (NASDAQ:NVCR) have earned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $35.80.

Several research analysts have recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $38.00 price objective on shares of NovoCure in a research note on Tuesday, January 14th. Evercore ISI upgraded shares of NovoCure from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $18.00 to $30.00 in a research note on Monday, December 2nd. StockNews.com upgraded shares of NovoCure from a “sell” rating to a “hold” rating in a research note on Tuesday, March 18th. Wedbush restated a “neutral” rating and set a $29.00 price objective on shares of NovoCure in a research note on Monday, January 13th. Finally, Piper Sandler boosted their price objective on shares of NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th.

NovoCure Stock Up 0.8 %

Shares of NVCR stock opened at $19.33 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. NovoCure has a 1 year low of $11.70 and a 1 year high of $34.13. The firm’s fifty day moving average price is $22.47 and its two-hundred day moving average price is $21.61. The firm has a market capitalization of $2.12 billion, a P/E ratio of -13.81 and a beta of 0.63.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.27). The firm had revenue of $161.27 million for the quarter, compared to analyst estimates of $161.30 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. On average, equities analysts predict that NovoCure will post -1.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. grew its stake in NovoCure by 222.6% in the 3rd quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider’s stock valued at $2,904,000 after buying an additional 124,793 shares during the last quarter. Intech Investment Management LLC acquired a new position in NovoCure in the 3rd quarter valued at about $346,000. Geode Capital Management LLC grew its stake 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 valued at $37,601,000 after buying an additional 29,871 shares during the last quarter. Principal Financial Group Inc. bought a new stake in NovoCure in the 4th quarter valued at about $272,000. Finally, FMR LLC boosted its holdings in NovoCure by 0.6% in the 3rd quarter. FMR LLC now owns 16,232,008 shares of the medical equipment provider’s stock valued at $253,706,000 after purchasing an additional 90,422 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

About NovoCure

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.