NovoCure Limited (NASDAQ:NVCR) Receives Consensus Rating of “Hold” from Brokerages

Shares of NovoCure Limited (NASDAQ:NVCR) have been assigned an average rating of “Hold” from the eight brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $27.2857.

A number of equities research analysts have recently weighed in on the company. HC Wainwright raised their price target on NovoCure from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Wedbush reissued a “neutral” rating and issued a $18.00 price objective on shares of NovoCure in a research note on Thursday, April 16th. Evercore reissued an “outperform” rating on shares of NovoCure in a research note on Friday, May 1st. Weiss Ratings reissued a “sell (e+)” rating on shares of NovoCure in a research note on Tuesday, April 21st. Finally, Wells Fargo & Company raised their price objective on NovoCure from $13.50 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th.

NovoCure Stock Performance

Shares of NASDAQ NVCR opened at $17.96 on Wednesday. NovoCure has a one year low of $9.82 and a one year high of $20.06. The firm has a market capitalization of $2.08 billion, a PE ratio of -11.74 and a beta of 0.90. The company has a current ratio of 2.90, a quick ratio of 2.70 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average price of $13.37 and a two-hundred day moving average price of $12.83.

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

Insiders Place Their Bets

In related news, COO Mukund Paravasthu sold 43,246 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $13.77, for a total value of $595,497.42. Following the transaction, the chief operating officer directly owned 72,832 shares of the company’s stock, valued at approximately $1,002,896.64. This trade represents a 37.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christoph Brackmann sold 6,412 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $13.31, for a total value of $85,343.72. Following the completion of the transaction, the chief financial officer directly owned 182,842 shares in the company, valued at $2,433,627.02. The trade was a 3.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 140,041 shares of company stock worth $1,860,116 in the last three months. 5.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC increased its position in NovoCure by 56.7% in the 1st quarter. AQR Capital Management LLC now owns 28,728 shares of the medical equipment provider’s stock worth $512,000 after buying an additional 10,394 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in NovoCure by 3.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,992 shares of the medical equipment provider’s stock worth $1,336,000 after buying an additional 2,502 shares during the period. Goldman Sachs Group Inc. increased its position in NovoCure by 5.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 993,670 shares of the medical equipment provider’s stock worth $17,707,000 after buying an additional 52,180 shares during the period. Acadian Asset Management LLC bought a new position in NovoCure in the 1st quarter worth approximately $87,000. Finally, Prudential Financial Inc. bought a new position in NovoCure in the 2nd quarter worth approximately $216,000. 84.61% of the stock is owned by institutional investors.

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.