Brokerages Set NovoCure Limited (NASDAQ:NVCR) PT at $27.29

by · The Markets Daily

Shares of NovoCure Limited (NASDAQ:NVCR – Get Free Report) have earned a consensus recommendation of “Hold” from the eight research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have given a buy recommendation to 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.

A number of equities analysts have recently issued reports on NVCR shares. Weiss Ratings upgraded shares of NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. Wedbush restated a “neutral” rating and set a $18.00 target price on shares of NovoCure in a research report on Thursday, April 16th. Wells Fargo & Company raised their target price 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. Evercore restated an “outperform” rating on shares of NovoCure in a research report on Friday, May 1st. Finally, HC Wainwright raised 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.

Check Out Our Latest Stock Analysis on NVCR

NovoCure Stock Down 0.6%

NovoCure stock opened at $17.49 on Friday. NovoCure has a fifty-two week low of $9.82 and a fifty-two week high of $18.92. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.70 and a current ratio of 2.90. The company has a market capitalization of $2.03 billion, a P/E ratio of -11.43 and a beta of 0.93. The stock has a 50-day simple moving average of $15.31 and a 200-day simple moving average of $13.49.

NovoCure (NASDAQ:NVCR – Get Free Report) last posted its earnings results 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). NovoCure had a negative net margin of 25.66% and a negative return on equity of 50.82%. The firm had revenue of $174.06 million during the quarter, compared to analysts’ expectations of $167.77 million. During the same period in the previous year, the firm posted ($0.31) earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities research analysts expect that NovoCure will post -1.55 earnings per share for the current year.

Insider Activity

In other NovoCure news, Director Jeryl L. Hilleman sold 2,945 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total transaction of $46,442.65. Following the completion of the sale, the director directly owned 13,861 shares of the company’s stock, valued at $218,587.97. This represents a 17.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Timothy J. Scannell sold 2,945 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total value of $46,442.65. Following the sale, the director directly owned 14,288 shares of the company’s stock, valued at approximately $225,321.76. This represents a 17.09% 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. Insiders sold 51,943 shares of company stock worth $893,171 over the last quarter. 5.52% of the stock is owned by insiders.

Institutional Trading of NovoCure

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVCR. AQR Capital Management LLC raised its stake in NovoCure by 56.7% during the 1st quarter. AQR Capital Management LLC now owns 28,728 shares of the medical equipment provider’s stock valued at $512,000 after acquiring an additional 10,394 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in NovoCure by 3.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,992 shares of the medical equipment provider’s stock valued at $1,336,000 after acquiring an additional 2,502 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in NovoCure by 5.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 993,670 shares of the medical equipment provider’s stock valued at $17,707,000 after acquiring an additional 52,180 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in NovoCure during the 1st quarter valued at approximately $87,000. Finally, Prudential Financial Inc. purchased a new stake in NovoCure during the 2nd quarter valued at approximately $216,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

NovoCure Company Profile

(Get Free Report)

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.

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