NovoCure Limited (NASDAQ:NVCR) Receives Average Rating of “Hold” from Analysts

NovoCure Limited (NASDAQ:NVCR) has been given an average rating of “Hold” by the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $27.3571.

A number of equities research analysts recently issued reports on NVCR shares. JPMorgan Chase & Co. lowered their price objective on NovoCure from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Wedbush reaffirmed a “neutral” rating and issued a $18.00 price target on shares of NovoCure in a report on Tuesday, September 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of NovoCure in a research report on Wednesday, October 8th. Finally, HC Wainwright upped their price objective on shares of NovoCure from $38.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th.

Insider Activity at NovoCure

In related news, CEO Ashley Cordova acquired 81,550 shares of the stock in a transaction dated Friday, September 5th. The shares were purchased at an average price of $12.22 per share, for a total transaction of $996,541.00. Following the transaction, the chief executive officer owned 437,569 shares in the company, valued at $5,347,093.18. This represents a 22.91% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 5.52% of the stock is owned by insiders.

Institutional Investors Weigh In On NovoCure

A number of large investors have recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. purchased a new position in shares of NovoCure in the 3rd quarter worth about $140,000. Dark Forest Capital Management LP purchased a new position in shares of NovoCure during the 3rd quarter valued at about $2,298,000. Voleon Capital Management LP bought a new stake in NovoCure in the 3rd quarter worth approximately $231,000. Vestal Point Capital LP purchased a new stake in NovoCure in the third quarter worth approximately $5,168,000. Finally, Prosperity Wealth Management Inc. purchased a new stake in NovoCure in the third quarter worth approximately $190,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

NovoCure Price Performance

Shares of NASDAQ:NVCR opened at $12.64 on Wednesday. The company has a 50 day moving average of $12.90 and a 200 day moving average of $14.36. The company has a current ratio of 1.55, a quick ratio of 1.50 and a debt-to-equity ratio of 0.57. The stock has a market cap of $1.42 billion, a P/E ratio of -7.85 and a beta of 0.80. NovoCure has a 12 month low of $10.70 and a 12 month high of $34.13.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings results on Thursday, October 30th. The medical equipment provider reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.09. The firm had revenue of $167.20 million during the quarter, compared to the consensus estimate of $158.81 million. NovoCure had a negative net margin of 27.66% and a negative return on equity of 50.29%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.28) EPS. As a group, sell-side analysts forecast that NovoCure will post -1.3 EPS for the current fiscal year.

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.