NovoCure Limited (NASDAQ:NVCR) Stock Has Average Price Target of $21.20

NovoCure Limited (NASDAQ:NVCR) has been assigned a consensus recommendation of “Hold” from the seven analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $21.20.

Several analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of NovoCure in a report on Thursday, August 27th. JPMorgan Chase & Co. began coverage on NovoCure in a report on Monday, July 13th. They set a “neutral” rating and a $17.00 target price on the stock. HC Wainwright set a $32.00 price target on shares of NovoCure in a research report on Friday, July 24th. Zacks Research raised shares of NovoCure from a “strong sell” rating to a “hold” rating in a report on Friday, July 24th. Finally, Wedbush raised their price objective on shares of NovoCure from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, July 24th.

NovoCure Price Performance

NASDAQ NVCR opened at $15.83 on Tuesday. NovoCure has a 12 month low of $9.82 and a 12 month high of $21.45. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.89 and a quick ratio of 2.70. The firm has a market capitalization of $1.84 billion, a PE ratio of -12.18 and a beta of 1.01. The company’s 50 day simple moving average is $16.79 and its 200 day simple moving average is $15.46.

NovoCure (NASDAQ:NVCR) last announced its earnings results on Thursday, July 23rd. The medical equipment provider reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.20. The firm had revenue of $183.58 million for the quarter, compared to analysts’ expectations of $172.44 million. NovoCure had a negative return on equity of 44.00% and a negative net margin of 21.25%.The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.36) earnings per share. As a group, equities research analysts forecast that NovoCure will post -1.21 EPS for the current fiscal year.

Institutional Trading of NovoCure

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. lifted its holdings in shares of NovoCure by 367.6% during the first quarter. Sei Investments Co. now owns 114,281 shares of the medical equipment provider’s stock valued at $1,246,000 after purchasing an additional 89,839 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of NovoCure in the 1st quarter valued at $1,028,000. Eversept Partners LP purchased a new position in NovoCure in the 4th quarter worth about $1,564,000. Dimensional Fund Advisors LP increased its stake in NovoCure by 27.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 960,056 shares of the medical equipment provider’s stock worth $10,462,000 after purchasing an additional 207,913 shares in the last quarter. Finally, Quantinno Capital Management LP increased its stake in NovoCure by 23.7% in the 1st quarter. Quantinno Capital Management LP now owns 2,487,376 shares of the medical equipment provider’s stock worth $27,112,000 after purchasing an additional 477,128 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

About NovoCure

NovoCure Ltd. (NASDAQ: NVCR) is an oncology company that develops and commercializes Tumor Treating Fields (TTFields), a noninvasive therapy that uses low-intensity, intermediate-frequency electric fields to disrupt the division of cancer cells. The company’s technology is designed to be used alongside other cancer treatments and is delivered through a portable device and transducer arrays placed on the patient’s body.

NovoCure’s principal commercial products include Optune Gio, used with other treatments for adults with certain forms of glioblastoma, and Optune Lua, approved in the United States for use with certain therapies in adults with unresectable, locally advanced or metastatic malignant pleural mesothelioma.