NovoCure Limited (NASDAQ:NVCR) Receives $31.25 Consensus PT from Brokerages

Shares of NovoCure Limited (NASDAQ:NVCRGet Free Report) have received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $31.25.

A number of analysts recently issued reports on the company. 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. HC Wainwright restated a “neutral” rating and issued a $22.00 target price on shares of NovoCure in a research note on Tuesday, June 4th. Piper Sandler restated an “overweight” rating and issued a $28.00 target price (up from $25.00) on shares of NovoCure in a research note on Wednesday, April 10th. Wedbush restated an “outperform” rating and issued a $24.00 target price (up from $21.00) on shares of NovoCure in a research note on Monday, June 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 research note on Tuesday, March 19th.

Check Out Our Latest Research Report on NVCR

NovoCure Stock Performance

NASDAQ:NVCR opened at $19.07 on Wednesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 5.99 and a current ratio of 6.26. NovoCure has a 52-week low of $10.87 and a 52-week high of $45.21. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -10.54 and a beta of 0.78. The business’s fifty day moving average is $18.34 and its 200 day moving average is $15.83.

NovoCure (NASDAQ:NVCRGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.07. NovoCure had a negative return on equity of 50.35% and a negative net margin of 36.67%. The company had revenue of $138.50 million for the quarter, compared to analyst estimates of $131.44 million. During the same period in the previous year, the company posted ($0.50) EPS. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. Research analysts predict that NovoCure will post -1.59 EPS for the current year.

Hedge Funds Weigh In On NovoCure

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in NovoCure during the 4th quarter valued at about $14,543,000. Federated Hermes Inc. boosted its holdings in NovoCure by 807.8% during the 4th quarter. Federated Hermes Inc. now owns 616,792 shares of the medical equipment provider’s stock valued at $9,209,000 after acquiring an additional 548,852 shares during the period. Invenomic Capital Management LP purchased a new stake in NovoCure during the 4th quarter valued at about $6,479,000. Jacobs Levy Equity Management Inc. boosted its holdings in NovoCure by 305.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 475,226 shares of the medical equipment provider’s stock valued at $7,428,000 after acquiring an additional 358,062 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in NovoCure by 490.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 408,839 shares of the medical equipment provider’s stock valued at $6,603,000 after acquiring an additional 339,610 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

NovoCure Company Profile

(Get Free Report

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.

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Analyst Recommendations for NovoCure (NASDAQ:NVCR)

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