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

NovoCure Limited (NASDAQ:NVCR) has received a consensus recommendation of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $35.80.

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

Institutional Investors Weigh In On NovoCure

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

NovoCure Trading Down 5.1 %

NASDAQ:NVCR opened at $18.77 on Friday. The stock has a fifty day simple moving average of $22.17 and a 200 day simple moving average of $21.64. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -13.41 and a beta of 0.63. NovoCure has a 1-year low of $11.70 and a 1-year high of $34.13. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27.

NovoCure (NASDAQ:NVCR) last announced its earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.27). NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The firm had revenue of $161.27 million during the quarter, compared to analyst estimates of $161.30 million. Sell-side analysts forecast that NovoCure will post -1.3 earnings per share 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.