NovoCure Limited (NASDAQ:NVCR) Receives Average Rating of “Hold” from Brokerages

Shares of NovoCure Limited (NASDAQ:NVCR) have received an average rating of “Hold” from the eight research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $27.2857.

NVCR has been the topic of several recent research reports. HC Wainwright lifted their price objective on shares of NovoCure from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Weiss Ratings restated a “sell (e+)” rating on shares of NovoCure in a research report on Tuesday, April 21st. Wedbush restated a “neutral” rating and set a $18.00 price target on shares of NovoCure in a research report on Thursday, April 16th. Wells Fargo & Company boosted their price target on shares of NovoCure from $13.50 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Finally, Evercore restated an “outperform” rating on shares of NovoCure in a research report on Friday, May 1st.

NovoCure Trading Up 1.7%

Shares of NASDAQ:NVCR opened at $18.26 on Wednesday. The company has a market cap of $2.11 billion, a PE ratio of -11.93 and a beta of 0.90. The company’s 50-day moving average price is $13.61 and its 200 day moving average price is $12.92. NovoCure has a fifty-two week low of $9.82 and a fifty-two week high of $20.06. The company has a quick ratio of 2.70, a current ratio of 2.90 and a debt-to-equity ratio of 0.71.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.11). The firm had revenue of $174.06 million during the quarter, compared to the consensus estimate of $167.77 million. NovoCure had a negative net margin of 25.66% and a negative return on equity of 50.82%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.31) earnings per share. Sell-side analysts anticipate that NovoCure will post -1.55 earnings per share for the current year.

Insider Activity at NovoCure

In other NovoCure news, COO Mukund Paravasthu sold 43,246 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $13.77, for a total transaction of $595,497.42. Following the sale, the chief operating officer directly owned 72,832 shares in the company, valued at approximately $1,002,896.64. The trade was a 37.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman William F. Doyle sold 71,887 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $12.98, for a total transaction of $933,093.26. Following the sale, the chairman owned 328,397 shares in the company, valued at $4,262,593.06. This trade represents a 17.96% 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 in the last three months. Insiders own 5.52% of the company’s stock.

Institutional Trading of NovoCure

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Amundi raised its position in shares of NovoCure by 19.9% during the 1st quarter. Amundi now owns 47,583 shares of the medical equipment provider’s stock worth $519,000 after buying an additional 7,907 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of NovoCure by 43.6% in the 1st quarter. California State Teachers Retirement System now owns 142,561 shares of the medical equipment provider’s stock worth $1,554,000 after purchasing an additional 43,257 shares during the last quarter. Eversept Partners LP grew its stake in shares of NovoCure by 11.5% in the 1st quarter. Eversept Partners LP now owns 134,917 shares of the medical equipment provider’s stock worth $1,471,000 after purchasing an additional 13,939 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of NovoCure by 23.7% in the 1st quarter. Quantinno Capital Management LP now owns 2,487,376 shares of the medical equipment provider’s stock worth $27,112,000 after purchasing an additional 477,128 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of NovoCure by 11.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,551,554 shares of the medical equipment provider’s stock worth $16,912,000 after purchasing an additional 163,800 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

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.