NovoCure Limited (NASDAQ:NVCR) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of NovoCure Limited (NASDAQ:NVCR) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat 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 target among brokers that have covered the stock in the last year is $32.83.

A number of brokerages have recently commented on NVCR. JPMorgan Chase & Co. dropped their target price on NovoCure from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Wall Street Zen lowered NovoCure from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. Piper Sandler decreased their price target on NovoCure from $42.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Finally, Wedbush decreased their price target on NovoCure from $29.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th.

NovoCure Price Performance

Shares of NovoCure stock opened at $17.04 on Wednesday. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -12.17 and a beta of 0.73. 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 stock has a 50 day moving average price of $17.44 and a 200-day moving average price of $21.90. NovoCure has a one year low of $14.17 and a one year high of $34.13.

NovoCure (NASDAQ:NVCR) last announced its earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.16. The firm had revenue of $154.99 million during the quarter, compared to analysts’ expectations of $147.57 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.36) EPS. Equities analysts expect that NovoCure will post -1.3 EPS for the current year.

Institutional Investors Weigh In On NovoCure

A number of institutional investors and hedge funds have recently modified their holdings of NVCR. GeoWealth Management LLC bought a new stake in NovoCure during the 4th quarter valued at $27,000. Lindbrook Capital LLC raised its position in NovoCure by 189.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock valued at $55,000 after purchasing an additional 1,213 shares in the last quarter. Blue Trust Inc. raised its position in NovoCure by 70.7% during the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after purchasing an additional 781 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in NovoCure during the 4th quarter valued at $68,000. Finally, SBI Securities Co. Ltd. bought a new stake in NovoCure during the 4th quarter valued at $70,000. 84.61% of the stock is owned by institutional investors.

About NovoCure

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.