NovoCure Limited (NASDAQ:NVCR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of NovoCure Limited (NASDAQ:NVCR) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $32.83.

NVCR has been the topic of a number of analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $34.00 price target on shares of NovoCure in a research report on Friday, June 27th. Wall Street Zen lowered shares of NovoCure from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. JPMorgan Chase & Co. reduced their target price on shares of NovoCure from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Finally, Wedbush decreased their price target on shares of NovoCure from $29.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NVCR. Capital International Investors raised its position in shares of NovoCure by 12.0% during the 4th quarter. Capital International Investors now owns 8,873,902 shares of the medical equipment provider’s stock worth $264,442,000 after acquiring an additional 951,141 shares in the last quarter. Capital World Investors increased its stake in NovoCure by 11.8% in the fourth quarter. Capital World Investors now owns 4,815,529 shares of the medical equipment provider’s stock valued at $143,503,000 after purchasing an additional 507,311 shares during the last quarter. Soleus Capital Management L.P. acquired a new stake in NovoCure during the fourth quarter worth approximately $81,643,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of NovoCure by 154.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,782,159 shares of the medical equipment provider’s stock worth $31,758,000 after buying an additional 1,080,514 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of NovoCure by 39.1% during the 4th quarter. Northern Trust Corp now owns 1,284,350 shares of the medical equipment provider’s stock worth $38,274,000 after buying an additional 360,841 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

NovoCure Stock Performance

Shares of NVCR stock opened at $17.71 on Friday. The firm has a 50 day moving average of $17.71 and a two-hundred day moving average of $20.87. The stock has a market capitalization of $1.97 billion, a PE ratio of -11.73 and a beta of 0.72. The company has a quick ratio of 1.41, a current ratio of 1.47 and a debt-to-equity ratio of 0.27. NovoCure has a 52 week low of $14.17 and a 52 week high of $34.13.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.16. NovoCure had a negative return on equity of 45.46% and a negative net margin of 26.41%. The firm had revenue of $154.99 million during the quarter, compared to analyst estimates of $147.57 million. During the same period last year, the business posted ($0.36) earnings per share. NovoCure’s revenue was up 11.9% compared to the same quarter last year. On average, research analysts predict that NovoCure will post -1.3 EPS for the current fiscal year.

About NovoCure

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company’s TTFields devices include Optune Gio and Optune Lua.