NovoCure Limited (NASDAQ:NVCR) Receives $26.92 Average PT from Analysts

NovoCure Limited (NASDAQ:NVCR) has earned an average rating of “Hold” from the seven analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $26.9167.

NVCR has been the topic of several analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of NovoCure in a research note on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price objective on shares of NovoCure from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Wedbush restated a “neutral” rating and set a $18.00 target price on shares of NovoCure in a report on Tuesday, September 30th. Finally, HC Wainwright boosted their price target on NovoCure from $38.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th.

Institutional Investors Weigh In On NovoCure

A number of large investors have recently added to or reduced their stakes in the stock. SJS Investment Consulting Inc. acquired a new position in NovoCure during the third quarter valued at approximately $41,000. Larson Financial Group LLC boosted its holdings in shares of NovoCure by 662.1% during the 3rd quarter. Larson Financial Group LLC now owns 4,100 shares of the medical equipment provider’s stock worth $53,000 after buying an additional 3,562 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in NovoCure by 17.1% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,307 shares of the medical equipment provider’s stock valued at $77,000 after buying an additional 629 shares during the last quarter. Headlands Technologies LLC bought a new position in NovoCure in the 2nd quarter worth $88,000. Finally, Acadian Asset Management LLC bought a new position in NovoCure in the 1st quarter worth $87,000. Institutional investors own 84.61% of the company’s stock.

NovoCure Stock Down 1.3%

NVCR opened at $13.27 on Friday. The company has a market capitalization of $1.49 billion, a PE ratio of -8.24 and a beta of 0.83. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.55 and a quick ratio of 1.50. NovoCure has a fifty-two week low of $10.70 and a fifty-two week high of $32.06. The business has a 50-day moving average of $12.56 and a 200-day moving average of $13.60.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, October 30th. The medical equipment provider reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. The firm had revenue of $167.20 million for the quarter, compared to the consensus estimate of $158.81 million. NovoCure had a negative return on equity of 50.29% and a negative net margin of 27.66%.The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.28) earnings per share. Equities research analysts forecast that NovoCure will post -1.3 EPS for the current fiscal 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.