NovoCure Limited (NASDAQ:NVCR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of NovoCure Limited (NASDAQ:NVCR) have been given an average recommendation of “Moderate Buy” by the nine research firms that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $33.25.

A number of research firms have recently commented on NVCR. HC Wainwright lifted their target price on NovoCure from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 27th. Wells Fargo & Company lowered 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. Evercore ISI boosted their price objective on NovoCure from $14.00 to $15.00 and gave the company an “in-line” rating in a research note on Friday, February 23rd. Wedbush restated a “neutral” rating and issued a $21.00 price objective on shares of NovoCure in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. boosted their price objective on NovoCure from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th.

Insider Buying and Selling at NovoCure

In other NovoCure news, EVP Frank X. Leonard sold 2,078 shares of NovoCure stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $16.14, for a total transaction of $33,538.92. Following the completion of the transaction, the executive vice president now owns 162,617 shares of the company’s stock, valued at approximately $2,624,638.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Frank X. Leonard sold 2,078 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $16.14, for a total transaction of $33,538.92. Following the completion of the transaction, the executive vice president now owns 162,617 shares of the company’s stock, valued at $2,624,638.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Frank X. Leonard sold 1,679 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $26,914.37. Following the transaction, the executive vice president now directly owns 160,938 shares of the company’s stock, valued at approximately $2,579,836.14. The disclosure for this sale can be found here. Insiders sold 7,921 shares of company stock valued at $127,161 in the last quarter. 5.67% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in NovoCure by 278.0% in the first quarter. GAMMA Investing LLC now owns 2,880 shares of the medical equipment provider’s stock worth $45,000 after buying an additional 2,118 shares in the last quarter. Vanguard Group Inc. lifted its position in NovoCure by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 9,759,098 shares of the medical equipment provider’s stock valued at $145,703,000 after purchasing an additional 122,105 shares during the last quarter. Legal & General Group Plc lifted its position in NovoCure by 7.7% in the fourth quarter. Legal & General Group Plc now owns 192,508 shares of the medical equipment provider’s stock valued at $2,874,000 after purchasing an additional 13,704 shares during the last quarter. Voya Investment Management LLC lifted its position in NovoCure by 96.1% in the fourth quarter. Voya Investment Management LLC now owns 159,885 shares of the medical equipment provider’s stock valued at $2,387,000 after purchasing an additional 78,357 shares during the last quarter. Finally, Oracle Alpha Inc. bought a new stake in NovoCure in the fourth quarter valued at approximately $191,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

NovoCure Trading Up 4.9 %

NASDAQ NVCR opened at $14.88 on Friday. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of -7.63 and a beta of 0.42. NovoCure has a one year low of $10.87 and a one year high of $83.60. The company has a debt-to-equity ratio of 1.57, a current ratio of 5.78 and a quick ratio of 5.56. The business’s fifty day moving average is $15.03 and its 200-day moving average is $14.16.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.08. The company had revenue of $133.80 million for the quarter, compared to analysts’ expectations of $133.80 million. NovoCure had a negative return on equity of 51.63% and a negative net margin of 40.65%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.36) EPS. Equities research analysts predict that NovoCure will post -1.78 EPS for the current year.

About NovoCure

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.