Novocure Ltd (NVCR) Given Average Recommendation of “Buy” by Brokerages
Novocure Ltd (NASDAQ:NVCR) has earned a consensus rating of “Buy” from the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $22.50.
Several research analysts recently commented on the stock. BidaskClub lowered shares of Novocure from a “hold” rating to a “sell” rating in a report on Thursday, February 15th. Mizuho restated a “buy” rating and issued a $28.00 price target (up previously from $25.00) on shares of Novocure in a report on Friday, February 23rd. Zacks Investment Research lowered shares of Novocure from a “buy” rating to a “hold” rating in a report on Saturday, January 13th. Deutsche Bank cut their price target on shares of Novocure from $22.00 to $19.00 and set a “hold” rating on the stock in a report on Friday, February 23rd. Finally, ValuEngine upgraded shares of Novocure from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st.
In other news, CEO Asaf Danziger sold 336,420 shares of Novocure stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $22.33, for a total transaction of $7,512,258.60. Following the sale, the chief executive officer now owns 435,863 shares in the company, valued at $9,732,820.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Wilhelmus Cm Groenhuysen sold 31,132 shares of Novocure stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $21.02, for a total transaction of $654,394.64. Following the sale, the chief financial officer now owns 240,210 shares in the company, valued at approximately $5,049,214.20. The disclosure for this sale can be found here. Insiders have sold 511,492 shares of company stock worth $11,300,256 in the last quarter. Insiders own 16.70% of the company’s stock.
Novocure (NVCR) opened at $21.60 on Friday. Novocure has a 1-year low of $6.75 and a 1-year high of $24.15. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.88 and a quick ratio of 4.44. The company has a market cap of $1,820.12, a P/E ratio of -30.86 and a beta of 3.50.
Novocure (NASDAQ:NVCR) last posted its quarterly earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.02. Novocure had a negative net margin of 34.83% and a negative return on equity of 51.74%. The firm had revenue of $53.66 million for the quarter, compared to analyst estimates of $53.17 million. During the same quarter last year, the firm posted ($0.26) earnings per share. Novocure’s revenue for the quarter was up 77.4% compared to the same quarter last year. equities analysts expect that Novocure will post -0.5 EPS for the current fiscal year.
Novocure Company Profile
NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.
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