NovoCure Limited (NASDAQ:NVCR) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of NovoCure Limited (NASDAQ:NVCR) have been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $32.67.

A number of equities research analysts have issued reports on the stock. Piper Sandler raised their price target on shares of NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $18.00 to $30.00 in a research note on Monday, December 2nd. HC Wainwright reaffirmed a “buy” rating and set a $38.00 target price (up previously from $30.00) on shares of NovoCure in a research note on Monday, December 2nd. Finally, Wedbush reaffirmed a “neutral” rating and set a $29.00 target price (up previously from $24.00) on shares of NovoCure in a research note on Monday, December 2nd.

Institutional Investors Weigh In On NovoCure

Several hedge funds have recently bought and sold shares of NVCR. FMR LLC raised its holdings in NovoCure by 0.6% in the third quarter. FMR LLC now owns 16,232,008 shares of the medical equipment provider’s stock worth $253,706,000 after buying an additional 90,422 shares during the last quarter. Nordwand Advisors LLC raised its holdings in NovoCure by 100.0% in the third quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider’s stock worth $47,356,000 after buying an additional 1,514,824 shares during the last quarter. Geode Capital Management LLC raised its holdings in NovoCure by 1.3% in the third quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider’s stock worth $37,601,000 after buying an additional 29,871 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of NovoCure by 10.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 907,999 shares of the medical equipment provider’s stock valued at $14,192,000 after purchasing an additional 84,606 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of NovoCure by 2.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 824,443 shares of the medical equipment provider’s stock valued at $12,886,000 after purchasing an additional 16,339 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

NovoCure Price Performance

Shares of NASDAQ:NVCR opened at $27.45 on Friday. The stock has a market cap of $2.97 billion, a PE ratio of -19.61 and a beta of 0.64. The company’s fifty day moving average is $25.11 and its 200 day moving average is $20.20. NovoCure has a 52 week low of $11.70 and a 52 week high of $34.13. 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 announced its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06. The business had revenue of $155.10 million for the quarter, compared to analyst estimates of $143.95 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The company’s revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.46) EPS. Research analysts anticipate that NovoCure will post -1.32 earnings per share 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.