Brokerages Set NovoCure Limited (NASDAQ:NVCR) PT at $32.67

Shares of NovoCure Limited (NASDAQ:NVCR - Get Free Report) have received a consensus rating of "Moderate Buy" from the six analysts that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $32.67.

NVCR has been the subject of several recent research reports. Wedbush restated a "neutral" rating and issued a $29.00 price target on shares of NovoCure in a research report on Monday, January 13th. HC Wainwright restated a "buy" rating and set a $38.00 price target on shares of NovoCure in a report on Tuesday, January 14th. Piper Sandler raised their price objective on NovoCure from $28.00 to $42.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Finally, Evercore ISI upgraded NovoCure from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $18.00 to $30.00 in a research note on Monday, December 2nd.

NovoCure Price Performance

NASDAQ:NVCR traded down $0.01 during trading hours on Thursday, hitting $25.51. The company's stock had a trading volume of 520,223 shares, compared to its average volume of 936,949. NovoCure has a twelve month low of $11.70 and a twelve month high of $34.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. The stock has a fifty day simple moving average of $27.51 and a 200-day simple moving average of $21.03. The company has a market capitalization of $2.76 billion, a P/E ratio of -18.22 and a beta of 0.64.

NovoCure (NASDAQ:NVCR - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.06. The business 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 revenue was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.46) EPS. On average, analysts anticipate that NovoCure will post -1.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in NovoCure during the second quarter valued at approximately $34,000. Brooklyn Investment Group bought a new position in shares of NovoCure in the third quarter worth approximately $45,000. Blue Trust Inc. increased its stake in NovoCure by 70.7% in the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider's stock valued at $56,000 after acquiring an additional 781 shares during the last quarter. Venturi Wealth Management LLC lifted its position in NovoCure by 58.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider's stock worth $57,000 after buying an additional 1,354 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of NovoCure by 21.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider's stock valued at $61,000 after purchasing an additional 701 shares during the last quarter. 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.