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

Shares of NovoCure Limited (NASDAQ:NVCR) have earned a consensus recommendation of “Hold” from the seven research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $26.9286.

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

Insider Activity at NovoCure

In related news, CEO Frank X. Leonard sold 5,607 shares of NovoCure stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $13.31, for a total transaction of $74,629.17. Following the transaction, the chief executive officer owned 493,793 shares of the company’s stock, valued at $6,572,384.83. This trade represents a 1.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Uri Weinberg sold 6,412 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $13.31, for a total transaction of $85,343.72. Following the transaction, the insider owned 267,190 shares of the company’s stock, valued at approximately $3,556,298.90. This represents a 2.34% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 140,041 shares of company stock worth $1,860,116. 5.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On NovoCure

A number of hedge funds and other institutional investors have recently made changes to their positions in NVCR. Vanguard Group Inc. increased its position in shares of NovoCure by 4.8% in the 4th 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 in the last quarter. Soleus Capital Management L.P. lifted its holdings in NovoCure by 25.0% during the second 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. Morgan Stanley lifted its holdings in NovoCure by 453.4% during the fourth quarter. Morgan Stanley now owns 5,069,895 shares of the medical equipment provider’s stock worth $65,554,000 after acquiring an additional 4,153,741 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in NovoCure by 38.8% in the second quarter. Balyasny Asset Management L.P. now owns 2,270,076 shares of the medical equipment provider’s stock valued at $40,407,000 after acquiring an additional 634,925 shares during the period. Finally, Renaissance Technologies LLC grew its stake in NovoCure by 29.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,387,754 shares of the medical equipment provider’s stock valued at $17,944,000 after acquiring an additional 314,900 shares during the period. 84.61% of the stock is owned by institutional investors.

NovoCure Stock Down 5.6%

Shares of NASDAQ NVCR opened at $10.36 on Tuesday. NovoCure has a 1 year low of $9.82 and a 1 year high of $20.06. The firm’s 50-day moving average is $12.16 and its 200-day moving average is $12.70. The company has a current ratio of 2.90, a quick ratio of 2.71 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $1.18 billion, a PE ratio of -8.49 and a beta of 0.71.

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 net margin of 20.79% and a negative return on equity of 39.11%. The business had revenue of $174.35 million during the quarter, compared to the consensus estimate of $174.40 million. During the same period in the previous year, the firm posted ($0.61) earnings per share. NovoCure’s revenue for the quarter was up 8.2% compared to the same quarter last year. Equities analysts expect that NovoCure will post -1.3 EPS for the current year.

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.