Brokerages Set NovoCure Limited (NASDAQ:NVCR) PT at $32.67

Shares of NovoCure Limited (NASDAQ:NVCR) have received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $32.67.

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

NovoCure Stock Performance

Shares of NVCR stock opened at $19.07 on Monday. The company has a market capitalization of $2.06 billion, a P/E ratio of -13.62 and a beta of 0.62. The business’s 50 day moving average is $25.57 and its two-hundred day moving average is $21.41. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. NovoCure has a 12-month low of $11.70 and a 12-month high of $34.13.

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

Hedge Funds Weigh In On NovoCure

Institutional investors have recently added to or reduced their stakes in the stock. Soleus Capital Management L.P. acquired a new stake in NovoCure during the fourth quarter worth $81,643,000. Nordwand Advisors LLC increased its stake in NovoCure by 100.0% during the third quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider’s stock worth $47,356,000 after acquiring an additional 1,514,824 shares during the last quarter. Capital International Investors increased its stake in NovoCure by 12.0% during the fourth 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 during the last quarter. Granite Investment Partners LLC acquired a new stake in NovoCure during the fourth quarter worth $20,464,000. Finally, Emerald Advisers LLC acquired a new stake in NovoCure during the fourth quarter worth $16,317,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.