NovoCure Limited (NASDAQ:NVCR) Receives $35.80 Average PT from Analysts

Shares of NovoCure Limited (NASDAQ:NVCR) have been given a consensus rating of “Moderate Buy” by the five analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $35.80.

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of NovoCure from a “sell” rating to a “hold” rating in a research report on Tuesday, March 18th. Piper Sandler lifted their price target on shares of NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. HC Wainwright reissued a “buy” rating and set a $38.00 price target on shares of NovoCure in a research report on Tuesday, January 14th. Wedbush reissued a “neutral” rating and set a $29.00 price target on shares of NovoCure in a research report on Monday, January 13th. Finally, Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $18.00 to $30.00 in a research report on Monday, December 2nd.

Institutional Investors Weigh In On NovoCure

Several institutional investors have recently added to or reduced their stakes in NVCR. GeoWealth Management LLC bought a new stake in NovoCure in the 4th quarter valued at $27,000. Brooklyn Investment Group bought a new stake in NovoCure in the 3rd quarter valued at $45,000. Lindbrook Capital LLC increased its stake in NovoCure by 189.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock valued at $55,000 after buying an additional 1,213 shares during the last quarter. Blue Trust Inc. increased its stake in NovoCure by 70.7% in the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after buying an additional 781 shares during the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in NovoCure in the 4th quarter valued at $68,000. 84.61% of the stock is owned by institutional investors.

NovoCure Price Performance

NVCR opened at $19.33 on Friday. The company has a fifty day moving average price of $22.47 and a two-hundred day moving average price of $21.61. 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 has a 52 week low of $11.70 and a 52 week high of $34.13. The firm has a market capitalization of $2.12 billion, a PE ratio of -13.81 and a beta of 0.63.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.27). NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The business had revenue of $161.27 million for the quarter, compared to analyst estimates of $161.30 million. As a group, analysts anticipate that NovoCure will post -1.3 earnings per share for the current year.

NovoCure Company Profile

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.