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

NovoCure Limited (NASDAQ:NVCR) has earned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $25.17.

NVCR has been the topic of several research reports. Evercore ISI lowered their price target on shares of 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 issued a $24.00 price target on shares of NovoCure in a research report on Thursday, July 25th. Wells Fargo & Company lowered their price target on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Finally, HC Wainwright boosted their price target on shares of NovoCure from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday, July 26th.

Institutional Trading of NovoCure

Hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in NovoCure in the 2nd quarter worth approximately $34,000. Scientech Research LLC purchased a new position in NovoCure in the 2nd quarter worth approximately $645,000. The Manufacturers Life Insurance Company grew its stake in NovoCure by 25.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 187,772 shares of the medical equipment provider’s stock worth $3,217,000 after buying an additional 37,951 shares in the last quarter. AQR Capital Management LLC grew its stake in NovoCure by 234.2% in the 2nd quarter. AQR Capital Management LLC now owns 431,445 shares of the medical equipment provider’s stock worth $7,391,000 after buying an additional 302,351 shares in the last quarter. Finally, Alpha DNA Investment Management LLC purchased a new position in NovoCure in the 2nd quarter worth approximately $349,000. Institutional investors own 84.61% of the company’s stock.

NovoCure Stock Performance

Shares of NVCR stock opened at $14.54 on Friday. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -8.03 and a beta of 0.71. The company has a debt-to-equity ratio of 1.81, a quick ratio of 6.22 and a current ratio of 6.46. NovoCure has a 52 week low of $10.87 and a 52 week high of $24.74. The firm’s 50-day simple moving average is $18.07 and its two-hundred day simple moving average is $17.59.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, July 25th. The medical equipment provider reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.09. The business had revenue of $150.40 million for the quarter, compared to analyst estimates of $135.83 million. NovoCure had a negative net margin of 30.67% and a negative return on equity of 45.68%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.54) earnings per share. As a group, equities analysts forecast that NovoCure will post -1.34 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.