NovoCure Limited (NASDAQ:NVCR) Receives $25.50 Average PT from Analysts

NovoCure Limited (NASDAQ:NVCR) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three 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 $25.17.

A number of equities analysts recently commented on the company. Evercore ISI reduced their price objective on NovoCure from $21.00 to $18.00 and set an “in-line” rating on the stock in a research report on Tuesday. Wedbush reissued an “outperform” rating and set a $24.00 price target on shares of NovoCure in a research report on Thursday, July 25th. Wells Fargo & Company cut their price objective on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Finally, HC Wainwright boosted their target price on shares of NovoCure from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, July 26th.

NovoCure Trading Down 4.7 %

Shares of NVCR opened at $14.89 on Friday. NovoCure has a 52-week low of $10.87 and a 52-week high of $24.74. The stock has a market cap of $1.60 billion, a PE ratio of -8.23 and a beta of 0.71. The firm’s fifty day moving average is $18.21 and its two-hundred day moving average is $17.62. The company has a quick ratio of 6.22, a current ratio of 6.46 and a debt-to-equity ratio of 1.81.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, July 25th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.09. The company had revenue of $150.40 million during the quarter, compared to analysts’ expectations of $135.83 million. NovoCure had a negative net margin of 30.67% and a negative return on equity of 45.68%. NovoCure’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.54) EPS. Research analysts forecast that NovoCure will post -1.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NovoCure

A number of institutional investors and hedge funds have recently made changes to their positions in NVCR. Ridgewood Investments LLC acquired a new stake in NovoCure in the 2nd quarter valued at approximately $28,000. Signaturefd LLC lifted its stake in NovoCure by 61.7% during the 2nd quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 627 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in NovoCure during the 2nd quarter valued at about $34,000. Fifth Third Bancorp acquired a new position in NovoCure in the 2nd quarter valued at about $43,000. Finally, GAMMA Investing LLC increased its stake in NovoCure by 278.0% during the first quarter. GAMMA Investing LLC now owns 2,880 shares of the medical equipment provider’s stock worth $45,000 after purchasing an additional 2,118 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

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.