NovoCure Limited (NASDAQ:NVCR) Receives $32.67 Average PT from Brokerages

Shares of NovoCure Limited (NASDAQ:NVCR - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $32.67.

A number of research firms have recently issued reports on NVCR. HC Wainwright reaffirmed a "buy" rating and set a $38.00 price objective (up from $30.00) on shares of NovoCure in a report on Monday, December 2nd. Wedbush reiterated a "neutral" rating and issued a $29.00 price objective (up from $24.00) on shares of NovoCure in a report on Monday, December 2nd. Evercore ISI raised NovoCure from an "in-line" rating to an "outperform" rating and raised their price objective for the company from $18.00 to $30.00 in a report on Monday, December 2nd. Finally, Piper Sandler upped their target price on NovoCure from $28.00 to $42.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th.

NovoCure Price Performance

NASDAQ:NVCR traded up $0.20 during trading hours on Friday, hitting $30.19. 1,004,545 shares of the company's stock traded hands, compared to its average volume of 1,103,723. NovoCure has a 52 week low of $11.70 and a 52 week high of $34.13. The business's fifty day simple moving average is $23.87 and its two-hundred day simple moving average is $19.86. 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 firm has a market cap of $3.27 billion, a P/E ratio of -21.56 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, topping the consensus estimate of ($0.34) by $0.06. The company had revenue of $155.10 million during the quarter, compared to analyst estimates of $143.95 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. NovoCure's revenue was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.46) earnings per share. On average, research analysts anticipate that NovoCure will post -1.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NovoCure

Several institutional investors and hedge funds have recently bought and sold shares of NVCR. Lombard Odier Asset Management USA Corp boosted its stake in shares of NovoCure by 5.4% during the second quarter. Lombard Odier Asset Management USA Corp now owns 10,862 shares of the medical equipment provider's stock valued at $186,000 after purchasing an additional 557 shares during the period. Arizona State Retirement System boosted its position in NovoCure by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 28,481 shares of the medical equipment provider's stock valued at $488,000 after buying an additional 581 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in 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 buying an additional 701 shares during the period. Versant Capital Management Inc grew its holdings in NovoCure by 35.8% in the 4th quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider's stock worth $100,000 after acquiring an additional 880 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of NovoCure by 58.5% in the third quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider's stock valued at $57,000 after acquiring an additional 1,354 shares during the period. 84.61% of the stock is currently owned by institutional investors.

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.