Brokerages Set NovoCure Limited (NASDAQ:NVCR) PT at $24.80

NovoCure Limited (NASDAQ:NVCR) has been assigned an average rating of “Hold” from the six research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $23.60.

NVCR has been the subject of several analyst reports. HC Wainwright reiterated a “buy” rating and issued a $46.00 price objective (down from $48.00) on shares of NovoCure in a research report on Thursday, June 18th. Evercore restated an “outperform” rating on shares of NovoCure in a research report on Friday, May 1st. Weiss Ratings raised NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. Wells Fargo & Company increased their price target on NovoCure from $13.50 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. began coverage on NovoCure in a research report on Monday. They set a “neutral” rating and a $17.00 price objective for the company.

Insider Activity at NovoCure

In other news, Director Timothy J. Scannell sold 2,945 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total value of $46,442.65. Following the transaction, the director directly owned 14,288 shares in the company, valued at approximately $225,321.76. This represents a 17.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director W Anthony Vernon sold 2,945 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total transaction of $46,442.65. Following the completion of the transaction, the director owned 197,657 shares in the company, valued at approximately $3,117,050.89. This represents a 1.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 51,943 shares of company stock valued at $893,171 over the last quarter. 5.52% of the stock is owned by insiders.

Institutional Trading of NovoCure

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in NovoCure by 56.7% during the first quarter. AQR Capital Management LLC now owns 28,728 shares of the medical equipment provider’s stock worth $512,000 after purchasing an additional 10,394 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of NovoCure by 3.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,992 shares of the medical equipment provider’s stock valued at $1,336,000 after buying an additional 2,502 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of NovoCure by 5.5% in the first quarter. Goldman Sachs Group Inc. now owns 993,670 shares of the medical equipment provider’s stock valued at $17,707,000 after buying an additional 52,180 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of NovoCure in the 1st quarter valued at $87,000. Finally, Prudential Financial Inc. purchased a new stake in shares of NovoCure in the 2nd quarter valued at $216,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

NovoCure Stock Performance

NASDAQ:NVCR opened at $16.03 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.90 and a quick ratio of 2.70. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -10.48 and a beta of 0.94. The company’s 50-day moving average is $16.79 and its two-hundred day moving average is $13.97. NovoCure has a 1-year low of $9.82 and a 1-year high of $18.92.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.11). The firm had revenue of $174.06 million during the quarter, compared to analysts’ expectations of $167.77 million. NovoCure had a negative net margin of 25.66% and a negative return on equity of 50.82%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the company earned ($0.31) EPS. Analysts forecast that NovoCure will post -1.51 EPS for the current year.

About NovoCure

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.