NovoCure Limited (NASDAQ:NVCR) Given Average Recommendation of “Hold” by Analysts

Shares of NovoCure Limited (NASDAQ:NVCR) have been given an average recommendation of “Hold” by the eight ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $27.50.

Several equities analysts have weighed in on the stock. Piper Sandler reiterated an “overweight” rating and set a $34.00 price objective on shares of NovoCure in a research report on Friday, June 27th. Wells Fargo & Company reiterated an “equal weight” rating and set a $14.50 price target (down previously from $40.00) on shares of NovoCure in a report on Friday, July 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of NovoCure in a research report on Saturday, September 27th. Wedbush reissued a “neutral” rating and issued a $18.00 price objective on shares of NovoCure in a research note on Tuesday, September 30th. Finally, LADENBURG THALM/SH SH assumed coverage on NovoCure in a research report on Tuesday, July 8th. They set a “buy” rating and a $30.00 price objective for the company.

NovoCure Trading Down 1.1%

Shares of NVCR opened at $14.50 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 1.39 and a debt-to-equity ratio of 0.28. NovoCure has a 1-year low of $10.87 and a 1-year high of $34.13. The stock has a market capitalization of $1.62 billion, a P/E ratio of -9.29 and a beta of 0.75. The business’s 50-day moving average price is $12.29 and its 200 day moving average price is $15.51.

NovoCure (NASDAQ:NVCR) last announced its earnings results on Thursday, July 24th. The medical equipment provider reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.03. NovoCure had a negative net margin of 27.13% and a negative return on equity of 47.74%. The company had revenue of $158.80 million during the quarter, compared to analysts’ expectations of $153.87 million. During the same period last year, the company posted ($0.31) earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts expect that NovoCure will post -1.3 earnings per share for the current year.

Insider Activity at NovoCure

In related news, CFO Christoph Brackmann acquired 20,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were purchased at an average cost of $11.59 per share, with a total value of $231,800.00. Following the completion of the transaction, the chief financial officer owned 141,150 shares of the company’s stock, valued at approximately $1,635,928.50. This trade represents a 16.51% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ashley Cordova bought 81,550 shares of the business’s stock in a transaction on Friday, September 5th. The stock was bought at an average price of $12.22 per share, with a total value of $996,541.00. Following the transaction, the chief executive officer owned 437,569 shares in the company, valued at approximately $5,347,093.18. This represents a 22.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 5.52% of the company’s stock.

Institutional Trading of NovoCure

Institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its position in NovoCure by 17.1% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,307 shares of the medical equipment provider’s stock worth $77,000 after purchasing an additional 629 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of NovoCure during the 2nd quarter valued at about $88,000. Acadian Asset Management LLC bought a new stake in shares of NovoCure in the 1st quarter valued at approximately $87,000. Russell Investments Group Ltd. grew its stake in shares of NovoCure by 463.8% in the 1st quarter. Russell Investments Group Ltd. now owns 6,529 shares of the medical equipment provider’s stock valued at $116,000 after buying an additional 5,371 shares in the last quarter. Finally, Wealthquest Corp acquired a new position in NovoCure in the first quarter worth approximately $129,000. Institutional investors and hedge funds 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.