NovoCure Limited (NASDAQ:NVCR) Receives $21.20 Average Price Target from Analysts

Shares of NovoCure Limited (NASDAQ:NVCR) have earned an average recommendation of “Hold” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $21.20.

A number of equities analysts have recently weighed in on the company. Zacks Research upgraded NovoCure from a “strong sell” rating to a “hold” rating in a research note on Friday, July 24th. Wells Fargo & Company boosted 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. Wedbush upped their price objective on NovoCure from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. started coverage on NovoCure in a research report on Monday, July 13th. They set a “neutral” rating and a $17.00 target price for the company. Finally, Evercore reissued an “outperform” rating on shares of NovoCure in a report on Friday, May 1st.

NovoCure Stock Down 1.4%

Shares of NASDAQ:NVCR opened at $16.05 on Monday. NovoCure has a 12-month low of $9.82 and a 12-month high of $21.45. The company has a quick ratio of 2.70, a current ratio of 2.89 and a debt-to-equity ratio of 0.58. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of -12.35 and a beta of 0.97. The business’s 50 day moving average is $16.34 and its 200 day moving average is $14.23.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, July 23rd. The medical equipment provider reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.20. NovoCure had a negative net margin of 21.25% and a negative return on equity of 44.00%. The company had revenue of $183.58 million for the quarter, compared to analyst estimates of $172.44 million. During the same period last year, the firm earned ($0.36) earnings per share. The firm’s revenue was up 15.6% on a year-over-year basis. On average, sell-side analysts forecast that NovoCure will post -1.21 earnings per share for the current fiscal year.

Insider Transactions at NovoCure

In other NovoCure news, Director W Anthony Vernon sold 2,945 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total value of $46,442.65. Following the transaction, the director directly owned 197,657 shares in the company, valued at $3,117,050.89. The trade was a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total transaction of $46,442.65. Following the transaction, the director directly owned 11,324 shares of the company’s stock, valued at $178,579.48. This 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. Over the last quarter, insiders sold 51,943 shares of company stock valued at $893,171. Corporate insiders own 6.55% of the company’s stock.

Institutional Trading of NovoCure

Hedge funds have recently made changes to their positions in the company. Tudor Investment Corp ET AL lifted its holdings in NovoCure by 140.6% during the third quarter. Tudor Investment Corp ET AL now owns 606,070 shares of the medical equipment provider’s stock valued at $7,830,000 after purchasing an additional 354,216 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of NovoCure by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 10,958,209 shares of the medical equipment provider’s stock worth $141,690,000 after purchasing an additional 502,368 shares in the last quarter. Eversept Partners LP bought a new stake in shares of NovoCure in the fourth quarter valued at approximately $1,564,000. Legal & General Group Plc lifted its stake in shares of NovoCure by 65.6% during the 4th quarter. Legal & General Group Plc now owns 406,664 shares of the medical equipment provider’s stock valued at $5,258,000 after buying an additional 161,095 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in NovoCure by 346.7% in the 1st quarter. SG Americas Securities LLC now owns 1,245,541 shares of the medical equipment provider’s stock worth $13,576,000 after buying an additional 966,735 shares during the period. 84.61% of the stock is currently owned by institutional investors.

About NovoCure

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.