NovoCure Limited (NASDAQ:NVCR) Receives $27.29 Average PT from Brokerages

NovoCure Limited (NASDAQ:NVCR) has been assigned an average recommendation of “Hold” from the eight ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $26.8571.

NVCR has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on NovoCure from $13.50 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Evercore reaffirmed an “outperform” rating on shares of NovoCure in a report on Friday, May 1st. Weiss Ratings raised NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. HC Wainwright reaffirmed a “buy” rating and set a $46.00 target price (down from $48.00) on shares of NovoCure in a report on Thursday. Finally, Wedbush reaffirmed a “neutral” rating and set a $18.00 target price on shares of NovoCure in a report on Thursday, April 16th.

Insider Activity

In other news, Director Jeryl L. Hilleman sold 2,945 shares of NovoCure stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total value of $46,442.65. Following the completion of the transaction, the director directly owned 13,861 shares of the company’s stock, valued at approximately $218,587.97. This trade represents a 17.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Frank X. Leonard sold 34,273 shares of NovoCure stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $17.93, for a total value of $614,514.89. Following the completion of the transaction, the chief executive officer directly owned 459,520 shares of the company’s stock, valued at approximately $8,239,193.60. This trade represents a 6.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 51,943 shares of company stock worth $893,171. 5.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Amundi raised its position in shares of NovoCure by 19.9% in the 1st quarter. Amundi now owns 47,583 shares of the medical equipment provider’s stock worth $519,000 after acquiring an additional 7,907 shares in the last quarter. California State Teachers Retirement System raised its position 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 acquiring an additional 43,257 shares in the last quarter. Eversept Partners LP raised its position 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 acquiring an additional 13,939 shares in the last quarter. Quantinno Capital Management LP raised its position 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 acquiring an additional 477,128 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position 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 acquiring an additional 163,800 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

More NovoCure News

Here are the key news stories impacting NovoCure this week:

• Negative Sentiment: NovoCure’s Phase 3 TRIDENT trial missed its primary survival endpoint in newly diagnosed glioblastoma, undermining the commercial prospects for its cancer treatment platform. Reuters article
• Negative Sentiment: A lawsuit/investigation notice followed the trial miss, signaling potential legal and governance risk after the stock’s steep decline. PR Newswire article
• Neutral Sentiment: HC Wainwright reiterated a Buy rating and a $46 price target, though it trimmed FY2029 and FY2030 earnings estimates slightly, suggesting long-term optimism remains but near-term expectations were nudged lower.

NovoCure Price Performance

Shares of NASDAQ:NVCR opened at $14.28 on Friday. The firm has a market cap of $1.65 billion, a P/E ratio of -9.33 and a beta of 0.93. NovoCure has a 12-month low of $9.82 and a 12-month high of $18.92. The business has a fifty day simple moving average of $15.60 and a 200 day simple moving average of $13.54. 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 announced its earnings results on Thursday, April 30th. The medical equipment provider reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.11). The company had revenue of $174.06 million for the quarter, compared to analyst estimates of $167.77 million. NovoCure had a negative return on equity of 50.82% and a negative net margin of 25.66%.The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.31) earnings per share. Analysts predict that NovoCure will post -1.55 earnings per share for the current year.

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.