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

Shares of NovoCure Limited (NASDAQ:NVCR) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $30.33.

Several equities research analysts have commented on the company. Wedbush restated a “neutral” rating and issued a $29.00 target price (up previously from $24.00) on shares of NovoCure in a research note on Monday, December 2nd. HC Wainwright reissued a “buy” rating and issued a $38.00 price objective (up previously from $30.00) on shares of NovoCure in a research report on Monday, December 2nd. Finally, Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and raised their target price for the company from $18.00 to $30.00 in a research report on Monday, December 2nd.

Institutional Investors Weigh In On NovoCure

Several hedge funds have recently bought and sold shares of NVCR. Lombard Odier Asset Management USA Corp boosted its position in NovoCure by 5.4% during the second quarter. Lombard Odier Asset Management USA Corp now owns 10,862 shares of the medical equipment provider’s stock worth $186,000 after purchasing an additional 557 shares during the period. Arizona State Retirement System boosted its holdings in shares of NovoCure by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 28,481 shares of the medical equipment provider’s stock worth $488,000 after buying an additional 581 shares during the period. Signaturefd LLC grew its stake in NovoCure by 61.7% in the 2nd quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 627 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in NovoCure by 21.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider’s stock valued at $61,000 after acquiring an additional 701 shares during the period. Finally, Venturi Wealth Management LLC lifted its position in NovoCure by 58.5% during the third quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock worth $57,000 after acquiring an additional 1,354 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

NovoCure Trading Up 3.7 %

NVCR opened at $29.72 on Wednesday. The firm’s fifty day moving average is $18.19 and its two-hundred day moving average is $18.65. The firm has a market cap of $3.22 billion, a PE ratio of -21.23 and a beta of 0.75. NovoCure has a twelve month low of $11.66 and a twelve month high of $32.60. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49.

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

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.