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

Shares of NovoCure Limited (NASDAQ:NVCR) have received an average rating of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $32.67.

Several research firms recently weighed in on NVCR. Wedbush restated a “neutral” rating and set a $29.00 price target (up from $24.00) on shares of NovoCure in a report on Monday, December 2nd. Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $18.00 to $30.00 in a research note on Monday, December 2nd. Piper Sandler raised their price target on shares of NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price target (up previously from $30.00) on shares of NovoCure in a report on Monday, December 2nd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NVCR. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of NovoCure in the 2nd quarter valued at $34,000. Brooklyn Investment Group purchased a new stake in NovoCure during the third quarter valued at about $45,000. Versant Capital Management Inc boosted its position in NovoCure by 35.8% during the fourth quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock valued at $100,000 after buying an additional 880 shares during the period. Venturi Wealth Management LLC grew its stake in shares of NovoCure by 58.5% during the third quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock valued at $57,000 after buying an additional 1,354 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of NovoCure by 21.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider’s stock worth $61,000 after buying an additional 701 shares during the period. 84.61% of the stock is currently owned by institutional investors.

NovoCure Price Performance

Shares of NVCR opened at $29.01 on Friday. The firm has a market cap of $3.14 billion, a PE ratio of -20.72 and a beta of 0.64. NovoCure has a 52-week low of $11.70 and a 52-week high of $34.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. The business’s 50 day moving average price is $24.37 and its two-hundred day moving average price is $20.00.

NovoCure (NASDAQ:NVCR) last released its earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The company had revenue of $155.10 million for the quarter, compared to the consensus estimate of $143.95 million. During the same quarter in the previous year, the company earned ($0.46) EPS. NovoCure’s quarterly revenue was up 21.8% compared to the same quarter last year. On average, equities 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.