NovoCure Limited (NASDAQ:NVCR) Receives $34.50 Average Price Target from Brokerages

NovoCure Limited (NASDAQ:NVCR) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $34.17.

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on NovoCure from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. StockNews.com upgraded shares of NovoCure from a “sell” rating to a “hold” rating in a report on Thursday. HC Wainwright reissued a “buy” rating and issued a $38.00 price target on shares of NovoCure in a research note on Tuesday, January 14th. Finally, Wedbush decreased their price objective on NovoCure from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NVCR. Soleus Capital Management L.P. purchased a new position in shares of NovoCure during the fourth quarter valued at about $81,643,000. Capital International Investors raised its position in shares of NovoCure by 12.0% in the 4th quarter. Capital International Investors now owns 8,873,902 shares of the medical equipment provider’s stock worth $264,442,000 after acquiring an additional 951,141 shares in the last quarter. Granite Investment Partners LLC purchased a new position in shares of NovoCure in the 4th quarter valued at approximately $20,464,000. Emerald Advisers LLC purchased a new stake in NovoCure in the fourth quarter worth $16,317,000. Finally, Capital World Investors raised its holdings in NovoCure by 11.8% in the fourth quarter. Capital World Investors now owns 4,815,529 shares of the medical equipment provider’s stock worth $143,503,000 after purchasing an additional 507,311 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

NovoCure Stock Performance

Shares of NVCR opened at $15.58 on Tuesday. The stock’s 50-day simple moving average is $18.95 and its 200 day simple moving average is $21.58. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. NovoCure has a 52-week low of $11.70 and a 52-week high of $34.13. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -11.13 and a beta of 0.65.

NovoCure (NASDAQ:NVCR) last posted 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). The business had revenue of $161.27 million for the quarter, compared to analysts’ expectations of $161.30 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. Research analysts forecast that NovoCure will post -1.3 EPS for the current fiscal 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.