Analysts Set NovoCure Limited (NASDAQ:NVCR) PT at $26.17

Shares of NovoCure Limited (NASDAQ:NVCR) have received an average rating of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $26.17.

Several brokerages have recently issued reports on NVCR. Wells Fargo & Company decreased their target price on NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Wedbush restated an “outperform” rating and set a $24.00 price objective on shares of NovoCure in a report on Thursday, July 25th. HC Wainwright upgraded shares of NovoCure from a “neutral” rating to a “buy” rating and boosted their target price for the company from $24.00 to $30.00 in a research note on Wednesday, October 16th. Finally, Evercore ISI decreased their price target on shares of NovoCure from $21.00 to $18.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st.

Institutional Investors Weigh In On NovoCure

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ridgewood Investments LLC purchased a new stake in shares of NovoCure in the second quarter worth about $28,000. Signaturefd LLC boosted its holdings in NovoCure by 61.7% in the 2nd quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 627 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of NovoCure during the 2nd quarter valued at $34,000. Fifth Third Bancorp bought a new position in shares of NovoCure in the second quarter worth $43,000. Finally, GAMMA Investing LLC raised its position in shares of NovoCure by 278.0% in the first quarter. GAMMA Investing LLC now owns 2,880 shares of the medical equipment provider’s stock worth $45,000 after buying an additional 2,118 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

NovoCure Stock Up 1.2 %

Shares of NVCR stock opened at $16.37 on Tuesday. The company has a quick ratio of 6.22, a current ratio of 6.46 and a debt-to-equity ratio of 1.81. NovoCure has a 52-week low of $10.87 and a 52-week high of $24.74. The company has a 50-day simple moving average of $16.95 and a two-hundred day simple moving average of $17.79.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, July 25th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.09. The company had revenue of $150.40 million during the quarter, compared to analyst estimates of $135.83 million. NovoCure had a negative return on equity of 45.68% and a negative net margin of 30.67%. NovoCure’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.54) earnings per share. As a group, sell-side analysts forecast that NovoCure will post -1.35 earnings per share for the current fiscal year.

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.