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

NovoCure Limited (NASDAQ:NVCR) has received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $32.67.

Several analysts have recently issued reports on the company. Piper Sandler increased their target price on NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Wedbush reissued a “neutral” rating and set a $29.00 target price on shares of NovoCure in a report on Monday, January 13th. Evercore ISI raised NovoCure from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $18.00 to $30.00 in a report on Monday, December 2nd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price objective on shares of NovoCure in a research note on Tuesday, January 14th.

Institutional Trading of NovoCure

Hedge funds have recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in shares of NovoCure by 70.7% during the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after purchasing an additional 781 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of NovoCure during the second quarter valued at about $34,000. Brooklyn Investment Group acquired a new stake in shares of NovoCure during the third quarter valued at about $45,000. Versant Capital Management Inc boosted its stake in shares of NovoCure by 35.8% during the fourth quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock valued at $100,000 after purchasing an additional 880 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of NovoCure by 58.5% during the third quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock valued at $57,000 after purchasing an additional 1,354 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

NovoCure Stock Performance

NVCR opened at $23.75 on Thursday. The firm has a market cap of $2.57 billion, a P/E ratio of -16.96 and a beta of 0.64. NovoCure has a 52-week low of $11.70 and a 52-week high of $34.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. The business’s fifty day moving average is $27.81 and its 200-day moving average is $21.14.

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.