NovoCure Limited (NASDAQ:NVCR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of NovoCure Limited (NASDAQ:NVCR) have received an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $30.88.

Several research analysts have recently commented on NVCR shares. Wells Fargo & Company decreased their price objective on NovoCure from $49.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. upped their price target on shares of NovoCure from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Evercore ISI raised their price objective on shares of NovoCure from $14.00 to $15.00 and gave the company an “in-line” rating in a research report on Friday, February 23rd. Wedbush reaffirmed a “neutral” rating and issued a $21.00 target price on shares of NovoCure in a report on Thursday. Finally, HC Wainwright decreased their price target on NovoCure from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday.

NovoCure Stock Up 4.2 %

Shares of NVCR stock opened at $14.78 on Tuesday. The company has a current ratio of 5.78, a quick ratio of 5.56 and a debt-to-equity ratio of 1.57. NovoCure has a 12 month low of $10.87 and a 12 month high of $83.60. The stock has a market cap of $1.59 billion, a P/E ratio of -8.17 and a beta of 0.50. The company has a 50 day simple moving average of $14.20 and a two-hundred day simple moving average of $13.85.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.07. The firm had revenue of $138.50 million during the quarter, compared to analyst estimates of $131.44 million. NovoCure had a negative return on equity of 49.34% and a negative net margin of 36.67%. NovoCure’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.50) EPS. On average, research analysts expect that NovoCure will post -1.78 earnings per share for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC lifted its stake in shares of NovoCure by 127.9% in the 3rd quarter. CWM LLC now owns 3,891 shares of the medical equipment provider’s stock valued at $63,000 after purchasing an additional 2,184 shares during the last quarter. UMB Bank n.a. purchased a new position in NovoCure during the third quarter worth $26,000. Handelsbanken Fonder AB raised its stake in shares of NovoCure by 100.0% in the third quarter. Handelsbanken Fonder AB now owns 34,646 shares of the medical equipment provider’s stock valued at $560,000 after acquiring an additional 17,323 shares during the period. Linden Thomas Advisory Services LLC bought a new stake in shares of NovoCure in the 3rd quarter worth about $209,000. Finally, Taylor Frigon Capital Management LLC boosted its stake in shares of NovoCure by 37.2% during the 3rd quarter. Taylor Frigon Capital Management LLC now owns 91,435 shares of the medical equipment provider’s stock worth $1,477,000 after purchasing an additional 24,790 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.