Brokerages Set NovoCure Limited (NASDAQ:NVCR) Target Price at $30.33

NovoCure Limited (NASDAQ:NVCR - Get Free Report) has earned an average rating of "Moderate Buy" from the six analysts that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $30.33.

A number of equities analysts have recently commented on NVCR shares. Evercore ISI upgraded shares of NovoCure from an "in-line" rating to an "outperform" rating and increased their price objective for the stock from $18.00 to $30.00 in a research note on Monday, December 2nd. Wedbush reissued a "neutral" rating and issued a $29.00 price objective (up previously from $24.00) on shares of NovoCure in a report on Monday, December 2nd. Finally, HC Wainwright reaffirmed a "buy" rating and set a $38.00 price target (up from $30.00) on shares of NovoCure in a research report on Monday, December 2nd.

NovoCure Stock Up 4.7 %

NASDAQ NVCR traded up $1.41 during trading hours on Wednesday, reaching $31.13. 1,356,159 shares of the company's stock were exchanged, compared to its average volume of 1,334,451. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of -22.24 and a beta of 0.75. The company's 50-day moving average is $18.80 and its two-hundred day moving average is $18.78. NovoCure has a one year low of $11.66 and a one year high of $32.60.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced its earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share for the quarter, topping analysts' consensus estimates of ($0.34) by $0.06. The firm had revenue of $155.10 million during the quarter, compared to analyst estimates of $143.95 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The company's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.46) EPS. On average, analysts forecast that NovoCure will post -1.32 EPS for the current fiscal year.

Institutional Investors Weigh In On NovoCure

Institutional investors have recently made changes to their positions in the company. Ridgewood Investments LLC acquired a new position in shares of NovoCure in the second quarter valued at about $28,000. Signaturefd LLC grew its position in shares of NovoCure by 61.7% during the 2nd quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 627 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of NovoCure during the second quarter worth approximately $34,000. Fifth Third Bancorp acquired a new stake in shares of NovoCure in the second quarter valued at approximately $43,000. Finally, Brooklyn Investment Group bought a new stake in shares of NovoCure in the third quarter valued at approximately $45,000. Institutional investors own 84.61% of the company's stock.

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.