NovoCure Limited (NASDAQ:NVCR) Receives Consensus Rating of “Moderate Buy” from Brokerages

NovoCure Limited (NASDAQ:NVCR) has earned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $26.17.

A number of brokerages recently weighed in on NVCR. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of NovoCure in a research note on Thursday. Wells Fargo & Company lowered their price objective on NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Finally, Evercore ISI cut their target price on NovoCure from $21.00 to $18.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st.

Institutional Trading of NovoCure

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVCR. Russell Investments Group Ltd. boosted its stake in NovoCure by 247.3% during the 1st quarter. Russell Investments Group Ltd. now owns 130,282 shares of the medical equipment provider’s stock valued at $2,036,000 after purchasing an additional 92,771 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in NovoCure by 7.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 118,070 shares of the medical equipment provider’s stock valued at $1,845,000 after buying an additional 7,977 shares during the period. Vanguard Group Inc. increased its holdings in NovoCure by 2.7% during the first quarter. Vanguard Group Inc. now owns 10,023,981 shares of the medical equipment provider’s stock worth $156,675,000 after buying an additional 264,883 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in NovoCure in the first quarter worth about $113,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of NovoCure by 5.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,378,940 shares of the medical equipment provider’s stock valued at $37,184,000 after acquiring an additional 125,715 shares during the period. 84.61% of the stock is owned by institutional investors.

NovoCure Price Performance

Shares of NVCR opened at $17.73 on Friday. The stock’s 50-day moving average price is $16.50 and its two-hundred day moving average price is $18.33. NovoCure has a 12 month low of $11.29 and a 12 month high of $24.74. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06. The company had revenue of $155.10 million for the quarter, compared to analyst estimates of $143.95 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.46) earnings per share. As a group, research analysts expect that NovoCure will post -1.31 EPS for the current 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.