NovoCure Limited (NASDAQ:NVCR) Receives $26.17 Consensus Target Price from Brokerages

Shares of NovoCure Limited (NASDAQ:NVCR) have been given a consensus rating of “Moderate Buy” by the six ratings firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $26.17.

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Evercore ISI cut their target price on shares of NovoCure from $21.00 to $18.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. Wedbush reissued an “outperform” rating and issued a $24.00 price target on shares of NovoCure in a report on Thursday, July 25th. Finally, HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of NovoCure in a research report on Thursday, October 31st.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Nordwand Advisors LLC lifted its position in NovoCure by 100.0% during the 3rd quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider’s stock valued at $47,356,000 after acquiring an additional 1,514,824 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of NovoCure by 171.9% during the second quarter. Renaissance Technologies LLC now owns 760,175 shares of the medical equipment provider’s stock valued at $13,022,000 after purchasing an additional 480,600 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of NovoCure by 305.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 475,226 shares of the medical equipment provider’s stock worth $7,428,000 after purchasing an additional 358,062 shares in the last quarter. Panagora Asset Management Inc. grew its stake in shares of NovoCure by 309.8% in the 2nd quarter. Panagora Asset Management Inc. now owns 409,794 shares of the medical equipment provider’s stock worth $7,020,000 after buying an additional 309,805 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in NovoCure by 234.2% during the 2nd quarter. AQR Capital Management LLC now owns 431,445 shares of the medical equipment provider’s stock valued at $7,391,000 after buying an additional 302,351 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

NovoCure Stock Down 2.4 %

Shares of NVCR opened at $15.73 on Friday. NovoCure has a 1 year low of $11.29 and a 1 year high of $24.74. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. The stock has a 50 day simple moving average of $16.56 and a two-hundred day simple moving average of $18.31. The firm has a market cap of $1.70 billion, a P/E ratio of -11.33 and a beta of 0.71.

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