NovoCure Limited (NASDAQ:NVCR) Receives $26.93 Consensus Price Target from Analysts

Shares of NovoCure Limited (NASDAQ:NVCR) have received an average rating of “Hold” from the seven research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $26.9286.

A number of research firms have recently weighed in on NVCR. Wedbush restated a “neutral” rating and issued a $18.00 target price on shares of NovoCure in a report on Thursday, January 15th. Evercore set a $20.00 price target on NovoCure in a report on Monday, January 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of NovoCure in a research report on Thursday, January 22nd. Finally, HC Wainwright raised their price objective on NovoCure from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, February 26th.

NovoCure Stock Performance

NVCR opened at $10.55 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.90 and a quick ratio of 2.71. NovoCure has a fifty-two week low of $9.82 and a fifty-two week high of $20.06. The firm has a market capitalization of $1.20 billion, a PE ratio of -8.65 and a beta of 0.82. The company’s 50-day moving average is $11.94 and its 200 day moving average is $12.64.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings results on Thursday, February 26th. The medical equipment provider reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.19. The business had revenue of $174.35 million for the quarter, compared to analysts’ expectations of $174.40 million. NovoCure had a negative net margin of 20.79% and a negative return on equity of 39.11%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.61) EPS. As a group, research analysts predict that NovoCure will post -1.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Christoph Brackmann sold 6,412 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $13.31, for a total transaction of $85,343.72. Following the transaction, the chief financial officer directly owned 182,842 shares of the company’s stock, valued at $2,433,627.02. This trade represents a 3.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Frank X. Leonard sold 5,607 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $13.31, for a total transaction of $74,629.17. Following the transaction, the chief executive officer owned 493,793 shares in the company, valued at approximately $6,572,384.83. This trade represents a 1.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 140,041 shares of company stock valued at $1,860,116 over the last 90 days. 5.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NovoCure

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of NovoCure by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 10,958,209 shares of the medical equipment provider’s stock valued at $141,690,000 after acquiring an additional 502,368 shares during the last quarter. Soleus Capital Management L.P. boosted its position in NovoCure by 25.0% in the second quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider’s stock worth $122,897,000 after purchasing an additional 1,382,888 shares during the last quarter. Morgan Stanley grew its stake in NovoCure by 453.4% in the 4th quarter. Morgan Stanley now owns 5,069,895 shares of the medical equipment provider’s stock valued at $65,554,000 after purchasing an additional 4,153,741 shares during the period. Balyasny Asset Management L.P. raised its stake 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 period. Finally, Renaissance Technologies LLC boosted its holdings in shares of NovoCure by 29.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,387,754 shares of the medical equipment provider’s stock worth $17,944,000 after buying an additional 314,900 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

About NovoCure

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.