NovoCure Limited (NASDAQ:NVCR) Receives $32.67 Average Price Target from Brokerages

Shares of NovoCure Limited (NASDAQ:NVCR) have earned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $32.67.

Several equities research analysts have weighed in on the company. Piper Sandler increased their price objective on NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price target (up previously from $30.00) on shares of NovoCure in a research note on Monday, December 2nd. Wedbush reiterated a “neutral” rating and issued a $29.00 price target (up previously from $24.00) on shares of NovoCure in a report on Monday, December 2nd. Finally, Evercore ISI upgraded shares of NovoCure from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $18.00 to $30.00 in a report on Monday, December 2nd.

Institutional Trading of NovoCure

A number of hedge funds have recently modified their holdings of NVCR. Versant Capital Management Inc lifted its position in NovoCure by 35.8% during the 4th quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock valued at $100,000 after acquiring an additional 880 shares during the period. Franklin Resources Inc. increased its stake in shares of NovoCure by 222.6% during the third quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider’s stock valued at $2,904,000 after purchasing an additional 124,793 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of NovoCure by 4.6% during the third quarter. Tidal Investments LLC now owns 55,756 shares of the medical equipment provider’s stock valued at $871,000 after purchasing an additional 2,465 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of 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 purchasing an additional 29,871 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new stake in shares of NovoCure in the 3rd quarter worth approximately $735,000. Institutional investors own 84.61% of the company’s stock.

NovoCure Trading Down 2.2 %

NASDAQ:NVCR opened at $29.01 on Friday. The firm has a market capitalization of $3.14 billion, a P/E ratio of -20.72 and a beta of 0.64. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average of $24.37 and a 200 day moving average of $20.00. NovoCure has a 52 week low of $11.70 and a 52 week high of $34.13.

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 analysts’ consensus estimates of ($0.34) by $0.06. The firm had revenue of $155.10 million for the quarter, compared to analysts’ expectations of $143.95 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.46) earnings per share. On average, research analysts predict that NovoCure will post -1.32 earnings per share for the current 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.