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

NovoCure Limited (NASDAQ:NVCR) has been given an average rating of “Hold” by the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $26.9286.

NVCR has been the topic of several recent research reports. Evercore set a $20.00 target price on shares of NovoCure in a research report on Monday, January 5th. Wedbush reiterated a “neutral” rating and set a $18.00 target price on shares of NovoCure in a research report on Thursday, April 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of NovoCure in a research report on Tuesday, April 21st. Finally, HC Wainwright lifted their target price on shares of NovoCure from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th.

NovoCure Trading Down 1.6%

Shares of NovoCure stock opened at $11.93 on Friday. The firm has a market capitalization of $1.38 billion, a PE ratio of -9.78 and a beta of 0.82. The company has a current ratio of 2.90, a quick ratio of 2.71 and a debt-to-equity ratio of 0.70. The firm’s 50 day moving average is $12.03 and its 200 day moving average is $12.43. NovoCure has a 1 year low of $9.82 and a 1 year high of $20.06.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings results on Thursday, February 26th. The medical equipment provider reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.19. The company had revenue of $174.35 million for the quarter, compared to analyst estimates 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 was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.61) EPS. Equities research analysts forecast that NovoCure will post -1.51 earnings per share for the current fiscal year.

Insider Buying and Selling at NovoCure

In related news, CFO Christoph Brackmann sold 6,412 shares of NovoCure stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $13.31, for a total transaction of $85,343.72. Following the sale, the chief financial officer directly owned 182,842 shares in the company, valued at $2,433,627.02. This trade represents a 3.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frank X. Leonard sold 5,607 shares of NovoCure stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $13.31, for a total transaction of $74,629.17. Following the sale, the chief executive officer owned 493,793 shares in the company, valued at approximately $6,572,384.83. This represents a 1.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 140,041 shares of company stock worth $1,860,116 over the last quarter. Insiders own 5.52% of the company’s stock.

Institutional Investors Weigh In On NovoCure

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of NovoCure by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 10,958,209 shares of the medical equipment provider’s stock worth $141,690,000 after purchasing an additional 502,368 shares during the period. Soleus Capital Management L.P. lifted its position in shares of NovoCure by 25.0% in 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 purchasing an additional 1,382,888 shares during the period. Morgan Stanley lifted its position in shares of NovoCure by 453.4% in the 4th quarter. Morgan Stanley now owns 5,069,895 shares of the medical equipment provider’s stock worth $65,554,000 after purchasing an additional 4,153,741 shares during the period. Balyasny Asset Management L.P. lifted its position in shares of NovoCure by 38.8% in 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 lifted its position 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 purchasing an additional 314,900 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.