NovoCure Limited (NASDAQ:NVCR) Stock Has Consensus Target Price of $21.20 According to Analysts

Shares of NovoCure Limited (NASDAQ:NVCR) have received a consensus rating of “Hold” from the seven ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $21.20.

A number of brokerages have recently weighed in on NVCR. HC Wainwright set a $32.00 price objective on shares of NovoCure in a research note on Friday, July 24th. Wall Street Zen downgraded shares of NovoCure from a “buy” rating to a “hold” rating in a report on Saturday, October 10th. Wedbush lifted their target price on shares of NovoCure from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Zacks Research raised shares of NovoCure from a “strong sell” rating to a “hold” rating in a research report on Friday, July 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NovoCure in a report on Thursday, August 27th.

Institutional Trading of NovoCure

Hedge funds have recently added to or reduced their stakes in the business. Sei Investments Co. boosted its holdings in NovoCure by 367.6% in the 1st quarter. Sei Investments Co. now owns 114,281 shares of the medical equipment provider’s stock valued at $1,246,000 after purchasing an additional 89,839 shares during the period. First Trust Advisors LP bought a new position in shares of NovoCure during the 1st quarter worth about $1,028,000. Dimensional Fund Advisors LP increased its holdings in shares of NovoCure by 27.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 960,056 shares of the medical equipment provider’s stock worth $10,462,000 after purchasing an additional 207,913 shares during the period. Quantinno Capital Management LP raised its position in shares of NovoCure by 23.7% during the first quarter. Quantinno Capital Management LP now owns 2,487,376 shares of the medical equipment provider’s stock valued at $27,112,000 after buying an additional 477,128 shares during the last quarter. Finally, Allianz Asset Management GmbH acquired a new position in shares of NovoCure during the second quarter valued at about $2,248,000. Institutional investors own 84.61% of the company’s stock.

NovoCure Stock Down 2.8%

Shares of NASDAQ:NVCR traded down $0.42 on Friday, reaching $14.68. The company had a trading volume of 1,125,126 shares, compared to its average volume of 1,596,787. The stock has a market capitalization of $1.71 billion, a P/E ratio of -11.29 and a beta of 0.99. The stock has a 50-day moving average price of $16.17 and a 200 day moving average price of $15.88. NovoCure has a twelve month low of $9.82 and a twelve month high of $21.45. The company has a quick ratio of 2.70, a current ratio of 2.89 and a debt-to-equity ratio of 0.58.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings data on Thursday, July 23rd. The medical equipment provider reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.20. NovoCure had a negative return on equity of 44.00% and a negative net margin of 21.25%. The business had revenue of $183.58 million for the quarter, compared to analyst estimates of $172.44 million. During the same quarter in the prior year, the firm posted ($0.36) EPS. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, equities analysts expect that NovoCure will post -1.21 EPS for the current year.

NovoCure Company Profile

NovoCure Ltd. (NASDAQ: NVCR) is an oncology company that develops and commercializes therapies based on Tumor Treating Fields (TTFields), low-intensity electric fields designed to disrupt the division of cancer cells. Its treatments are delivered through portable, wearable devices used alongside other cancer therapies.

The company’s principal products include Optune Gio for certain adults with glioblastoma and Optune Lua for adults with unresectable, locally advanced or metastatic pleural mesothelioma and certain forms of metastatic non-small cell lung cancer.