NovoCure Limited (NASDAQ:NVCR) Receives Average Recommendation of "Moderate Buy" from Analysts

NovoCure Limited (NASDAQ:NVCR - Get Free Report) has been given a consensus rating of "Moderate Buy" by the five analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $35.80.

A number of research analysts recently issued reports on the company. StockNews.com raised NovoCure from a "sell" rating to a "hold" rating in a report on Tuesday, March 18th. Evercore ISI raised shares of NovoCure from an "in-line" rating to an "outperform" rating and lifted their target price for the stock from $18.00 to $30.00 in a research report on Monday, December 2nd. Wedbush reaffirmed a "neutral" rating and issued a $29.00 price objective on shares of NovoCure in a research note on Monday, January 13th. Piper Sandler boosted their target price on shares of NovoCure from $28.00 to $42.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $38.00 target price on shares of NovoCure in a research report on Tuesday, January 14th.

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NovoCure Price Performance

Shares of NovoCure stock traded up $0.45 on Friday, hitting $19.78. The company had a trading volume of 551,387 shares, compared to its average volume of 1,243,592. NovoCure has a 52 week low of $11.70 and a 52 week 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 company has a market cap of $2.17 billion, a PE ratio of -14.13 and a beta of 0.63. The business has a 50-day simple moving average of $22.47 and a 200-day simple moving average of $21.61.

NovoCure (NASDAQ:NVCR - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.27). NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The firm had revenue of $161.27 million for the quarter, compared to the consensus estimate of $161.30 million. Research analysts expect that NovoCure will post -1.3 EPS for the current fiscal year.

Institutional Trading of NovoCure

Hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. increased its position in NovoCure by 222.6% in the 3rd quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider's stock worth $2,904,000 after purchasing an additional 124,793 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of NovoCure in the 3rd quarter valued at approximately $346,000. Geode Capital Management LLC increased its holdings in NovoCure by 1.3% in the third quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider's stock worth $37,601,000 after buying an additional 29,871 shares during the last quarter. Principal Financial Group Inc. bought a new position in NovoCure during the fourth quarter valued at approximately $272,000. Finally, FMR LLC lifted its stake in NovoCure by 0.6% in the third quarter. FMR LLC now owns 16,232,008 shares of the medical equipment provider's stock valued at $253,706,000 after acquiring an additional 90,422 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other 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.