Analysts Set NovoCure Limited (NASDAQ:NVCR) PT at $32.83

Shares of NovoCure Limited (NASDAQ:NVCR) have been assigned an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, 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 price objective among analysts that have issued ratings on the stock in the last year is $32.83.

Several research firms have weighed in on NVCR. JPMorgan Chase & Co. lowered their price target on shares of NovoCure from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Piper Sandler lowered their price objective on NovoCure from $42.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Wedbush lowered their target price on shares of NovoCure from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Finally, Wall Street Zen cut shares of NovoCure from a “hold” rating to a “sell” rating in a research note on Friday, April 25th.

Institutional Investors Weigh In On NovoCure

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GeoWealth Management LLC bought a new position in shares of NovoCure during the 4th quarter valued at approximately $27,000. Lindbrook Capital LLC increased its position in NovoCure by 189.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock valued at $55,000 after acquiring an additional 1,213 shares during the last quarter. Blue Trust Inc. raised its stake in shares of NovoCure by 70.7% in the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after acquiring an additional 781 shares during the period. GF Fund Management CO. LTD. purchased a new stake in shares of NovoCure in the fourth quarter valued at $68,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of NovoCure in the 4th quarter worth about $70,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

NovoCure Stock Up 3.3%

NVCR stock opened at $17.00 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $1.90 billion, a PE ratio of -12.14 and a beta of 0.74. The stock’s 50 day moving average is $17.36 and its 200-day moving average is $21.94. NovoCure has a twelve month low of $14.17 and a twelve month high of $34.13.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.16. The company had revenue of $154.99 million for the quarter, compared to analysts’ expectations of $147.57 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. NovoCure’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.36) EPS. Sell-side analysts expect that NovoCure will post -1.3 EPS for the current fiscal year.

About NovoCure

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.