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

Shares of NovoCure Limited (NASDAQ:NVCR) have received a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat reports. Two 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 objective among brokerages that have issued a report on the stock in the last year is $32.67.

A number of brokerages have recently weighed in on NVCR. Wedbush reaffirmed a “neutral” rating and issued a $29.00 price objective on shares of NovoCure in a research note on Monday, January 13th. Evercore ISI raised NovoCure from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $18.00 to $30.00 in a research note on Monday, December 2nd. Piper Sandler boosted their target price on NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, HC Wainwright reissued a “buy” rating and set a $38.00 target price on shares of NovoCure in a research note on Tuesday, January 14th.

Institutional Trading of NovoCure

Institutional investors have recently bought and sold shares of the business. GeoWealth Management LLC purchased a new stake in NovoCure during the 4th quarter worth about $27,000. Lindbrook Capital LLC lifted its holdings in NovoCure by 189.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock worth $55,000 after buying an additional 1,213 shares during the last quarter. Blue Trust Inc. lifted its holdings in NovoCure by 70.7% during the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock worth $56,000 after buying an additional 781 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of NovoCure in the 4th quarter valued at about $68,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of NovoCure in the 4th quarter valued at about $70,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

NovoCure Trading Down 0.8 %

Shares of NASDAQ NVCR opened at $19.07 on Monday. NovoCure has a twelve month low of $11.70 and a twelve month high of $34.13. 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 stock has a fifty day simple moving average of $25.57 and a 200-day simple moving average of $21.41. The stock has a market capitalization of $2.06 billion, a PE ratio of -13.62 and a beta of 0.62.

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