NovoCure Limited (NASDAQ:NVCR) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of NovoCure Limited (NASDAQ:NVCR) have been given an average rating of “Moderate Buy” by the six ratings firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $32.67.

NVCR has been the topic of several research analyst reports. Piper Sandler increased their target price on shares of NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Wedbush reissued a “neutral” rating and set a $29.00 target price on shares of NovoCure in a research note on Monday, January 13th. HC Wainwright reissued a “buy” rating and set a $38.00 target price on shares of NovoCure in a research note on Tuesday, January 14th. Finally, Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $18.00 to $30.00 in a research note on Monday, December 2nd.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NVCR. GeoWealth Management LLC bought a new position in shares of NovoCure in the fourth quarter valued at $27,000. Brooklyn Investment Group bought a new position in shares of NovoCure during the third quarter valued at about $45,000. Lindbrook Capital LLC lifted its position in shares of NovoCure by 189.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock valued at $55,000 after purchasing an additional 1,213 shares in the last quarter. Blue Trust Inc. lifted its position in shares of NovoCure by 70.7% during the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after purchasing an additional 781 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its position in shares of NovoCure by 58.5% during the third quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock valued at $57,000 after purchasing an additional 1,354 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

NovoCure Stock Up 2.0 %

Shares of NASDAQ NVCR opened at $22.09 on Monday. The firm has a market cap of $2.39 billion, a PE ratio of -15.78 and a beta of 0.62. NovoCure has a 12-month low of $11.70 and a 12-month high of $34.13. The company’s fifty day simple moving average is $26.65 and its 200 day simple moving average is $21.39. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27.

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.