NovoCure Limited (NASDAQ:NVCR) Receives $26.17 Average Price Target from Analysts

Shares of NovoCure Limited (NASDAQ:NVCR - Get Free Report) have been given an average rating of "Moderate Buy" by the six research firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $26.17.

A number of equities research analysts recently commented on NVCR shares. Evercore ISI decreased their price target on NovoCure from $21.00 to $18.00 and set an "in-line" rating on the stock in a research report on Tuesday, October 1st. Wells Fargo & Company decreased their target price on NovoCure from $42.00 to $40.00 and set an "overweight" rating on the stock in a report on Friday, July 26th. Wedbush reaffirmed an "outperform" rating and issued a $24.00 price target on shares of NovoCure in a report on Thursday, July 25th. Finally, HC Wainwright reissued a "buy" rating and set a $30.00 price objective on shares of NovoCure in a report on Thursday, October 31st.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in shares of NovoCure by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,378,940 shares of the medical equipment provider's stock worth $37,184,000 after purchasing an additional 125,715 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of NovoCure in the 1st quarter valued at $695,000. Federated Hermes Inc. increased its holdings in shares of NovoCure by 5.8% in the second quarter. Federated Hermes Inc. now owns 742,927 shares of the medical equipment provider's stock worth $12,726,000 after acquiring an additional 40,870 shares in the last quarter. Bank of New York Mellon Corp increased its stake in NovoCure by 56.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 419,960 shares of the medical equipment provider's stock worth $7,194,000 after purchasing an additional 152,185 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in NovoCure by 171.9% during the 2nd quarter. Renaissance Technologies LLC now owns 760,175 shares of the medical equipment provider's stock worth $13,022,000 after buying an additional 480,600 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

NovoCure Price Performance

NovoCure stock traded down $0.46 during mid-day trading on Friday, hitting $16.11. 733,694 shares of the company were exchanged, compared to its average volume of 1,292,837. NovoCure has a 1-year low of $11.29 and a 1-year high of $24.74. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average of $16.56 and a 200 day moving average of $18.23. The company has a market capitalization of $1.74 billion, a PE ratio of -11.51 and a beta of 0.71.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.06. The firm had revenue of $155.10 million during the quarter, compared to the consensus estimate of $143.95 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The firm's quarterly revenue was up 21.8% on a year-over-year basis. During the same period last year, the firm posted ($0.46) EPS. As a group, sell-side analysts expect that NovoCure will post -1.31 earnings per share for the current year.

NovoCure Company Profile

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.