NovoCure Limited (NASDAQ:NVCR) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

NovoCure Limited (NASDAQ:NVCR) has earned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $32.67.

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

NovoCure Stock Down 5.1 %

Shares of NVCR stock opened at $27.45 on Friday. NovoCure has a 12 month low of $11.70 and a 12 month high of $34.13. The stock has a market cap of $2.97 billion, a P/E ratio of -19.61 and a beta of 0.64. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The company has a 50 day simple moving average of $25.11 and a two-hundred day simple moving average of $20.20.

NovoCure (NASDAQ:NVCR) last announced its earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The business had revenue of $155.10 million during the quarter, compared to analysts’ expectations of $143.95 million. During the same period in the prior year, the company earned ($0.46) earnings per share. The firm’s revenue was up 21.8% on a year-over-year basis. On average, research analysts expect that NovoCure will post -1.32 earnings per share for the current year.

Institutional Investors Weigh In On NovoCure

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC raised its stake in shares of NovoCure by 0.6% in the third quarter. FMR LLC now owns 16,232,008 shares of the medical equipment provider’s stock valued at $253,706,000 after acquiring an additional 90,422 shares during the period. Nordwand Advisors LLC raised its stake in shares of NovoCure by 100.0% in the third quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider’s stock valued at $47,356,000 after acquiring an additional 1,514,824 shares during the period. Geode Capital Management LLC raised its stake in shares of NovoCure by 1.3% in the third quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider’s stock valued at $37,601,000 after acquiring an additional 29,871 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of NovoCure by 10.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 907,999 shares of the medical equipment provider’s stock valued at $14,192,000 after acquiring an additional 84,606 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of NovoCure by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 824,443 shares of the medical equipment provider’s stock valued at $12,886,000 after acquiring an additional 16,339 shares during the period. Hedge funds and other institutional investors 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.