NovoCure Limited (NASDAQ:NVCR) Receives $35.80 Consensus PT from Brokerages

NovoCure Limited (NASDAQ:NVCR) has been given a consensus rating of “Moderate Buy” by the five research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $35.80.

Several brokerages have recently issued reports on NVCR. Piper Sandler raised their price objective on shares of NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. HC Wainwright restated a “buy” rating and issued a $38.00 price target on shares of NovoCure in a research report on Tuesday, January 14th. Wedbush reiterated a “neutral” rating and issued a $29.00 target price on shares of NovoCure in a research note on Monday, January 13th. StockNews.com upgraded NovoCure from a “sell” rating to a “hold” rating in a research note on Tuesday, March 18th. Finally, Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $18.00 to $30.00 in a report on Monday, December 2nd.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. GeoWealth Management LLC acquired a new stake in shares of NovoCure in the 4th quarter valued at $27,000. Brooklyn Investment Group acquired a new position in NovoCure in the third quarter valued at about $45,000. Lindbrook Capital LLC boosted its position in NovoCure by 189.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock valued at $55,000 after buying an additional 1,213 shares in the last quarter. Blue Trust Inc. grew its stake in NovoCure by 70.7% during the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock worth $56,000 after buying an additional 781 shares during the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of NovoCure during the fourth quarter worth approximately $68,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

NovoCure Stock Performance

Shares of NVCR opened at $18.77 on Friday. The company has a market capitalization of $2.06 billion, a PE ratio of -13.41 and a beta of 0.63. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. NovoCure has a one year low of $11.70 and a one year high of $34.13. The company’s fifty day moving average price is $22.17 and its 200 day moving average price is $21.64.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.27). The business had revenue of $161.27 million for the quarter, compared to analyst estimates of $161.30 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. As a group, analysts expect that NovoCure will post -1.3 earnings per share for the current year.

NovoCure Company Profile

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.