Analysts Set NovoCure Limited (NASDAQ:NVCR) PT at $34.50

Shares of NovoCure Limited (NASDAQ:NVCR) have earned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $34.17.

NVCR has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their price target on shares of NovoCure from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. StockNews.com raised NovoCure from a “sell” rating to a “hold” rating in a research note on Thursday. Wedbush cut their target price on NovoCure from $29.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, HC Wainwright restated a “buy” rating and issued a $38.00 price target on shares of NovoCure in a research report on Tuesday, January 14th.

Institutional Trading of NovoCure

Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in NovoCure by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider’s stock valued at $37,601,000 after buying an additional 29,871 shares in the last quarter. Tidal Investments LLC boosted its holdings in shares of NovoCure by 4.6% in the third quarter. Tidal Investments LLC now owns 55,756 shares of the medical equipment provider’s stock valued at $871,000 after purchasing an additional 2,465 shares during the period. Franklin Resources Inc. grew its stake in NovoCure by 222.6% in the third quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider’s stock worth $2,904,000 after purchasing an additional 124,793 shares in the last quarter. Versant Capital Management Inc raised its position in NovoCure by 35.8% during the 4th quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock valued at $100,000 after purchasing an additional 880 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of NovoCure by 57.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider’s stock worth $129,000 after buying an additional 1,575 shares during the period. 84.61% of the stock is currently owned by institutional investors.

NovoCure Stock Performance

NASDAQ:NVCR opened at $15.58 on Tuesday. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -11.13 and a beta of 0.65. NovoCure has a 1 year low of $11.70 and a 1 year high of $34.13. The stock’s 50 day simple moving average is $19.06 and its two-hundred day simple moving average is $21.53. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.27). NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The business had revenue of $161.27 million for the quarter, compared to analysts’ expectations of $161.30 million. As a group, equities analysts anticipate that NovoCure will post -1.3 earnings per share for the current fiscal year.

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.