NovoCure Limited (NASDAQ:NVCR) Receives $27.29 Average Target Price from Analysts

NovoCure Limited (NASDAQ:NVCR) has been assigned a consensus rating of “Hold” from the eight ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $26.8571.

A number of analysts recently commented on NVCR shares. Wells Fargo & Company lifted their price objective on NovoCure from $13.50 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. HC Wainwright reiterated a “buy” rating and set a $46.00 price objective (down from $48.00) on shares of NovoCure in a research report on Thursday. Wedbush reiterated a “neutral” rating and set a $18.00 price objective on shares of NovoCure in a research report on Thursday, April 16th. Evercore reiterated an “outperform” rating on shares of NovoCure in a research report on Friday, May 1st. Finally, Weiss Ratings upgraded NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st.

Insider Transactions at NovoCure

In other NovoCure news, Director Timothy J. Scannell sold 2,945 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total value of $46,442.65. Following the sale, the director directly owned 14,288 shares of the company’s stock, valued at approximately $225,321.76. This trade represents a 17.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Allyson J. Ocean sold 2,945 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total value of $46,442.65. Following the completion of the transaction, the director owned 11,324 shares in the company, valued at approximately $178,579.48. This trade represents a 20.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 51,943 shares of company stock worth $893,171 in the last quarter. 5.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NovoCure

A number of large investors have recently modified their holdings of NVCR. Empowered Funds LLC purchased a new position in shares of NovoCure in the 4th quarter worth about $33,000. Kestra Advisory Services LLC acquired a new stake in shares of NovoCure in the fourth quarter valued at about $49,000. Larson Financial Group LLC grew its stake in shares of NovoCure by 662.1% in the third quarter. Larson Financial Group LLC now owns 4,100 shares of the medical equipment provider’s stock valued at $53,000 after buying an additional 3,562 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of NovoCure by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,442 shares of the medical equipment provider’s stock valued at $70,000 after buying an additional 1,120 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in NovoCure in the first quarter valued at approximately $87,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

NovoCure Price Performance

Shares of NASDAQ NVCR opened at $14.28 on Friday. The firm has a market capitalization of $1.65 billion, a P/E ratio of -9.33 and a beta of 0.93. NovoCure has a one year low of $9.82 and a one year high of $18.92. The company’s fifty day moving average is $15.53 and its two-hundred day moving average is $13.54. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.70 and a current ratio of 2.90.

NovoCure (NASDAQ:NVCR) last issued its earnings results on Thursday, April 30th. The medical equipment provider reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.11). The company had revenue of $174.06 million for the quarter, compared to analysts’ expectations of $167.77 million. NovoCure had a negative return on equity of 50.82% and a negative net margin of 25.66%.NovoCure’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.31) earnings per share. Analysts forecast that NovoCure will post -1.55 EPS for the current fiscal year.

NovoCure Company Profile

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.