Brokerages Set NovoCure Limited (NASDAQ:NVCR) Target Price at $25.50

NovoCure Limited (NASDAQ:NVCR) has been given a consensus recommendation of “Hold” by the seven analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $25.50.

A number of analysts have recently issued reports on NVCR shares. JPMorgan Chase & Co. lowered their price objective on NovoCure from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. HC Wainwright decreased their target price on shares of NovoCure from $42.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday, January 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of NovoCure in a research note on Thursday, January 22nd. Evercore set a $20.00 price target on shares of NovoCure in a research note on Monday, January 5th. Finally, Wedbush reiterated a “neutral” rating and issued a $18.00 price objective on shares of NovoCure in a research note on Thursday, January 15th.

Institutional Trading of NovoCure

A number of hedge funds and other institutional investors have recently modified their holdings of NVCR. Soleus Capital Management L.P. lifted its position in NovoCure by 25.0% during the 2nd quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider’s stock worth $122,897,000 after buying an additional 1,382,888 shares in the last quarter. American Century Companies Inc. boosted its position in NovoCure by 1,354.7% during the second quarter. American Century Companies Inc. now owns 1,029,874 shares of the medical equipment provider’s stock valued at $18,332,000 after purchasing an additional 959,079 shares during the last quarter. Millennium Management LLC grew its stake in NovoCure by 106.5% in the third quarter. Millennium Management LLC now owns 1,335,490 shares of the medical equipment provider’s stock valued at $17,255,000 after purchasing an additional 688,710 shares in the last quarter. Balyasny Asset Management L.P. increased its position in shares of NovoCure by 38.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,270,076 shares of the medical equipment provider’s stock worth $40,407,000 after purchasing an additional 634,925 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of NovoCure by 2,063.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 565,763 shares of the medical equipment provider’s stock worth $7,310,000 after purchasing an additional 539,609 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

NovoCure Price Performance

NASDAQ NVCR opened at $10.50 on Monday. The firm has a market cap of $1.18 billion, a P/E ratio of -6.52 and a beta of 0.73. The stock’s 50-day moving average is $12.88 and its two-hundred day moving average is $12.60. NovoCure has a fifty-two week low of $9.82 and a fifty-two week high of $22.95. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.55 and a quick ratio of 1.50.

NovoCure Company Profile

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.