NovoCure Limited (NASDAQ:NVCR) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of NovoCure Limited (NASDAQ:NVCR) have received an average rating of “Hold” from the seven analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $26.9286.

A number of equities analysts recently issued reports on the company. HC Wainwright increased their target price on NovoCure from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Evercore set a $20.00 price objective on shares of NovoCure in a report on Monday, January 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of NovoCure in a report on Thursday, January 22nd. Finally, Wedbush reissued a “neutral” rating and set a $18.00 target price on shares of NovoCure in a research report on Thursday, January 15th.

Key Headlines Impacting NovoCure

Here are the key news stories impacting NovoCure this week:

• Negative Sentiment: Chairman William F. Doyle sold 71,887 shares at an average price of $12.98 (~$933,093). He reduced his stake by 17.96%. SEC Filing
• Negative Sentiment: COO Mukund Paravasthu sold 43,246 shares at an average of $13.77 (≈$595,497), a 37.26% reduction in his holdings. SEC Filing
• Negative Sentiment: COO Mukund Paravasthu also sold 5,377 shares at an average of $13.31 (~$71,568) in a separate filing. SEC Filing
• Negative Sentiment: CEO Frank X. Leonard sold 5,607 shares at $13.31 (~$74,629), a 1.12% reduction in his stake. SEC Filing
• Negative Sentiment: CFO Christoph Brackmann sold 6,412 shares at $13.31 (~$85,344), a 3.39% reduction. SEC Filing
• Negative Sentiment: Insider Uri Weinberg sold 6,412 shares at $13.31 (~$85,344), a 2.34% decrease in holdings. SEC Filing
• Negative Sentiment: Insider Michal Nath Puri sold 1,100 shares at $13.31 (~$14,641), a 0.54% reduction. SEC Filing

Insider Transactions at NovoCure

In other news, insider Uri Weinberg sold 6,412 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $13.31, for a total value of $85,343.72. Following the transaction, the insider owned 267,190 shares in the company, valued at $3,556,298.90. This trade represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mukund Paravasthu sold 43,246 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $13.77, for a total value of $595,497.42. Following the sale, the chief operating officer owned 72,832 shares of the company’s stock, valued at $1,002,896.64. This trade represents a 37.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 140,041 shares of company stock valued at $1,860,116. Corporate insiders own 5.52% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Morgan Stanley grew its position in NovoCure by 453.4% in the 4th quarter. Morgan Stanley now owns 5,069,895 shares of the medical equipment provider’s stock worth $65,554,000 after purchasing an additional 4,153,741 shares in the last quarter. Soleus Capital Management L.P. boosted its stake in shares of NovoCure by 25.0% in 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 buying an additional 1,382,888 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of NovoCure by 1,093.2% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,223,755 shares of the medical equipment provider’s stock worth $15,823,000 after buying an additional 1,121,192 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of NovoCure by 1,354.7% in the second quarter. American Century Companies Inc. now owns 1,029,874 shares of the medical equipment provider’s stock valued at $18,332,000 after acquiring an additional 959,079 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of NovoCure during the fourth quarter valued at approximately $11,991,000. 84.61% of the stock is owned by institutional investors.

NovoCure Price Performance

NVCR stock opened at $14.23 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.90 and a quick ratio of 1.50. The company’s 50-day moving average is $12.75 and its 200-day moving average is $12.71. The stock has a market capitalization of $1.62 billion, a PE ratio of -11.66 and a beta of 0.71. NovoCure has a 1 year low of $9.82 and a 1 year high of $21.55.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings results on Thursday, February 26th. The medical equipment provider reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.19. NovoCure had a negative return on equity of 39.11% and a negative net margin of 20.79%.The business had revenue of $174.35 million for the quarter, compared to the consensus estimate of $174.40 million. During the same period in the prior year, the business earned ($0.61) EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities research analysts expect 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.