NovoCure Limited (NASDAQ:NVCR) Given Average Recommendation of “Moderate Buy” by Analysts

NovoCure Limited (NASDAQ:NVCR) has received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $31.13.

A number of analysts have recently commented on NVCR shares. Wedbush restated a “neutral” rating and issued a $21.00 price target on shares of NovoCure in a report on Wednesday, March 27th. Piper Sandler restated an “overweight” rating and issued a $28.00 price target (up from $25.00) on shares of NovoCure in a report on Wednesday. HC Wainwright upped their target price on NovoCure from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Wednesday, March 27th. Wells Fargo & Company dropped their target price on NovoCure from $49.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. upped their target price on NovoCure from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th.

NovoCure Price Performance

Shares of NovoCure stock opened at $14.12 on Friday. The stock’s 50-day moving average is $15.03 and its 200-day moving average is $14.17. NovoCure has a one year low of $10.87 and a one year high of $83.60. The company has a debt-to-equity ratio of 1.57, a quick ratio of 5.56 and a current ratio of 5.78.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.08. The company had revenue of $133.80 million for the quarter, compared to analyst estimates of $133.80 million. NovoCure had a negative return on equity of 51.63% and a negative net margin of 40.65%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.36) earnings per share. Research analysts anticipate that NovoCure will post -1.78 earnings per share for the current year.

Insider Buying and Selling at NovoCure

In other NovoCure news, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $33,775.21. Following the sale, the chief operating officer now owns 252,452 shares in the company, valued at $4,046,805.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Frank X. Leonard sold 2,078 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $16.14, for a total value of $33,538.92. Following the transaction, the executive vice president now owns 162,617 shares of the company’s stock, valued at $2,624,638.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $16.03, for a total value of $33,775.21. Following the completion of the transaction, the chief operating officer now directly owns 252,452 shares in the company, valued at approximately $4,046,805.56. The disclosure for this sale can be found here. Insiders have sold 7,921 shares of company stock worth $127,161 over the last 90 days. Company insiders own 5.67% of the company’s stock.

Hedge Funds Weigh In On NovoCure

Institutional investors and hedge funds have recently made changes to their positions in the company. Seven Eight Capital LP grew its position in shares of NovoCure by 109.5% in the third quarter. Seven Eight Capital LP now owns 137,721 shares of the medical equipment provider’s stock valued at $2,224,000 after purchasing an additional 71,989 shares during the last quarter. SG Americas Securities LLC grew its position in shares of NovoCure by 42.1% in the fourth quarter. SG Americas Securities LLC now owns 228,591 shares of the medical equipment provider’s stock valued at $3,413,000 after purchasing an additional 67,705 shares during the last quarter. Federated Hermes Inc. acquired a new position in shares of NovoCure in the third quarter valued at approximately $1,097,000. Connor Clark & Lunn Investment Management Ltd. grew its position in NovoCure by 490.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 408,839 shares of the medical equipment provider’s stock worth $6,603,000 after buying an additional 339,610 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its position in NovoCure by 44.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 73,759 shares of the medical equipment provider’s stock worth $1,101,000 after buying an additional 22,627 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.