Novocure Ltd (NASDAQ:NVCR) has received an average rating of “Buy” from the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $22.50.
Several brokerages recently weighed in on NVCR. Mizuho reissued a “buy” rating and issued a $28.00 price objective (up previously from $25.00) on shares of Novocure in a report on Friday, February 23rd. Deutsche Bank decreased their price objective on Novocure from $22.00 to $19.00 and set a “hold” rating for the company in a report on Friday, February 23rd. ValuEngine raised Novocure from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. BidaskClub raised Novocure from a “sell” rating to a “hold” rating in a report on Friday, March 9th. Finally, Zacks Investment Research lowered Novocure from a “buy” rating to a “hold” rating in a report on Saturday, January 13th.
Shares of Novocure stock traded down $1.55 during trading hours on Wednesday, hitting $20.25. 910,093 shares of the company’s stock traded hands, compared to its average volume of 870,517. Novocure has a 12-month low of $9.85 and a 12-month high of $24.15. The firm has a market cap of $1,959.44, a PE ratio of -28.61 and a beta of 3.14. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.88 and a quick ratio of 4.44.
Novocure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, February 22nd. The medical equipment provider reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.02. Novocure had a negative return on equity of 51.74% and a negative net margin of 34.83%. The company had revenue of $53.66 million during the quarter, compared to analyst estimates of $53.17 million. During the same quarter last year, the firm posted ($0.26) EPS. The firm’s revenue for the quarter was up 77.4% on a year-over-year basis. equities analysts anticipate that Novocure will post -0.5 EPS for the current fiscal year.
In other Novocure news, insider Eilon D. Kirson sold 25,320 shares of Novocure stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $22.00, for a total transaction of $557,040.00. Following the completion of the transaction, the insider now owns 3,181 shares of the company’s stock, valued at approximately $69,982. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Asaf Danziger sold 13,974 shares of Novocure stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $24.02, for a total value of $335,655.48. Following the transaction, the chief executive officer now directly owns 356,790 shares of the company’s stock, valued at approximately $8,570,095.80. The disclosure for this sale can be found here. Insiders have sold a total of 511,492 shares of company stock valued at $11,300,256 in the last ninety days. Insiders own 16.70% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of NVCR. Farallon Capital Management LLC bought a new stake in shares of Novocure during the 4th quarter valued at about $23,533,000. Tamarack Advisers LP bought a new stake in shares of Novocure during the 4th quarter valued at about $21,311,000. Allianz Asset Management GmbH bought a new stake in shares of Novocure during the 4th quarter valued at about $10,760,000. Pier Capital LLC bought a new stake in shares of Novocure during the 3rd quarter valued at about $5,426,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Novocure during the 4th quarter valued at about $5,177,000. Hedge funds and other institutional investors own 42.83% of the company’s stock.
NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.
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