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

NovoCure Limited (NASDAQ:NVCR) has earned an average recommendation of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $25.50.

Several equities research analysts have recently weighed in on NVCR shares. JPMorgan Chase & Co. lowered their target price on shares of NovoCure from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. Wedbush restated a “neutral” rating and issued a $18.00 price target on shares of NovoCure in a research report on Tuesday, September 30th. HC Wainwright decreased their price objective on shares of NovoCure from $42.00 to $39.00 and set a “buy” rating on the stock in a research note on Tuesday. Weiss Ratings reiterated a “sell (e+)” rating on shares of NovoCure in a research note on Wednesday, October 8th. Finally, Evercore ISI set a $20.00 target price on NovoCure in a report on Monday, January 5th.

Hedge Funds Weigh In On NovoCure

A number of institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC increased its stake in shares of NovoCure by 56.7% in the first quarter. AQR Capital Management LLC now owns 28,728 shares of the medical equipment provider’s stock valued at $512,000 after buying an additional 10,394 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in NovoCure by 3.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,992 shares of the medical equipment provider’s stock worth $1,336,000 after acquiring an additional 2,502 shares during the last quarter. Goldman Sachs Group Inc. increased its position in NovoCure by 5.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 993,670 shares of the medical equipment provider’s stock valued at $17,707,000 after acquiring an additional 52,180 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of NovoCure in the first quarter worth about $87,000. Finally, Strs Ohio acquired a new position in shares of NovoCure during the first quarter worth approximately $759,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

NovoCure Price Performance

NovoCure stock opened at $13.77 on Thursday. The business has a 50 day simple moving average of $12.66 and a 200 day simple moving average of $13.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.55 and a quick ratio of 1.50. The company has a market capitalization of $1.54 billion, a PE ratio of -8.55 and a beta of 0.73. NovoCure has a one year low of $10.70 and a one year high of $27.70.

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

NovoCure Company Profile

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.