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

Shares of NovoCure Limited (NASDAQ:NVCR) have earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $25.50.

A number of research firms recently issued reports on NVCR. Evercore set a $20.00 target price on NovoCure in a report on Monday, January 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NovoCure in a research report on Thursday, January 22nd. Wedbush reiterated a “neutral” rating and issued a $18.00 price objective on shares of NovoCure in a research note on Thursday, January 15th. HC Wainwright lowered their price objective on NovoCure from $42.00 to $39.00 and set a “buy” rating for the company in a research report on Tuesday, January 13th. Finally, JPMorgan Chase & Co. cut their target price on shares of NovoCure from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th.

NovoCure Price Performance

NovoCure stock opened at $10.14 on Monday. The company has a quick ratio of 1.50, a current ratio of 1.55 and a debt-to-equity ratio of 0.57. NovoCure has a 52-week low of $9.82 and a 52-week high of $23.18. The firm has a market cap of $1.14 billion, a PE ratio of -6.30 and a beta of 0.73. The company’s 50 day moving average is $12.95 and its two-hundred day moving average is $12.64.

Institutional Investors Weigh In On NovoCure

Several institutional investors have recently modified their holdings of NVCR. Vanguard Group Inc. increased its holdings in NovoCure by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 10,958,209 shares of the medical equipment provider’s stock valued at $141,690,000 after buying an additional 502,368 shares during the last quarter. Soleus Capital Management L.P. boosted its position in shares of NovoCure by 25.0% during the 2nd quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider’s stock worth $122,897,000 after acquiring an additional 1,382,888 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in shares of NovoCure by 38.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,270,076 shares of the medical equipment provider’s stock worth $40,407,000 after acquiring an additional 634,925 shares in the last quarter. Quantinno Capital Management LP increased its holdings in shares of NovoCure by 38.5% in the 2nd quarter. Quantinno Capital Management LP now owns 1,368,663 shares of the medical equipment provider’s stock valued at $24,362,000 after acquiring an additional 380,411 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of NovoCure by 106.5% during the 3rd quarter. Millennium Management LLC now owns 1,335,490 shares of the medical equipment provider’s stock worth $17,255,000 after acquiring an additional 688,710 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

About NovoCure

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.