NovoCure Limited (NASDAQ:NVCR) Receives $31.13 Consensus Target Price from Brokerages

Shares of NovoCure Limited (NASDAQ:NVCR) have received a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four 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 covered the stock in the last year is $30.88.

A number of research firms have recently commented on NVCR. HC Wainwright reduced their price objective on shares of NovoCure from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Thursday. Wells Fargo & Company reduced their target price on shares of NovoCure from $49.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. JPMorgan Chase & Co. upped their price objective on NovoCure from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. Evercore ISI increased their target price on shares of NovoCure from $14.00 to $15.00 and gave the stock an “in-line” rating in a research report on Friday, February 23rd. Finally, Piper Sandler restated an “overweight” rating and issued a $28.00 price target (up previously from $25.00) on shares of NovoCure in a research report on Wednesday, April 10th.

NovoCure Stock Up 11.4 %

NASDAQ:NVCR opened at $14.19 on Tuesday. The company has a quick ratio of 5.56, a current ratio of 5.78 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’s fifty day simple moving average is $14.21 and its 200-day simple moving average is $13.87. The firm has a market capitalization of $1.53 billion, a P/E ratio of -7.28 and a beta of 0.50.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.45) EPS for the quarter, topping 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%. NovoCure’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.36) earnings per share. Equities research analysts expect that NovoCure will post -1.78 earnings per share for the current year.

Insider Activity

In other NovoCure news, EVP Frank X. Leonard sold 1,679 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $16.03, for a total transaction of $26,914.37. Following the transaction, the executive vice president now directly owns 160,938 shares in the company, valued at approximately $2,579,836.14. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NovoCure news, EVP Frank X. Leonard sold 2,078 shares of the business’s stock in a transaction 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 legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Frank X. Leonard sold 1,679 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.03, for a total transaction of $26,914.37. Following the completion of the transaction, the executive vice president now owns 160,938 shares in the company, valued at $2,579,836.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,921 shares of company stock valued at $127,161. Company insiders own 5.67% of the company’s stock.

Institutional Investors Weigh In On NovoCure

Several institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. bought a new stake in NovoCure during the third quarter valued at $26,000. China Universal Asset Management Co. Ltd. increased its stake in shares of NovoCure by 96.8% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,739 shares of the medical equipment provider’s stock valued at $44,000 after buying an additional 1,347 shares during the period. GAMMA Investing LLC increased its position in NovoCure by 278.0% during the 1st quarter. GAMMA Investing LLC now owns 2,880 shares of the medical equipment provider’s stock valued at $45,000 after purchasing an additional 2,118 shares during the period. CWM LLC increased its position in shares of NovoCure by 127.9% during the third quarter. CWM LLC now owns 3,891 shares of the medical equipment provider’s stock valued at $63,000 after buying an additional 2,184 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in shares of NovoCure in the 3rd quarter worth approximately $74,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

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.