NovoCure Limited (NASDAQ:NVCR) Receives $28.79 Consensus Target Price from Analysts

Shares of NovoCure Limited (NASDAQ:NVCR) have been assigned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $28.7857.

A number of brokerages recently issued reports on NVCR. Wells Fargo & Company restated an “equal weight” rating and issued a $14.50 target price (down from $40.00) on shares of NovoCure in a report on Friday, July 25th. Piper Sandler restated an “overweight” rating and issued a $34.00 target price on shares of NovoCure in a report on Friday, June 27th. Finally, LADENBURG THALM/SH SH assumed coverage on NovoCure in a report on Tuesday, July 8th. They issued a “buy” rating and a $30.00 target price on the stock.

NovoCure Stock Performance

Shares of NASDAQ NVCR opened at $13.00 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.45 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -8.33 and a beta of 0.58. The stock’s fifty day simple moving average is $12.80 and its 200 day simple moving average is $16.09. NovoCure has a 52-week low of $10.87 and a 52-week high of $34.13.

NovoCure (NASDAQ:NVCR) last issued its earnings results on Thursday, July 24th. The medical equipment provider reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.03. The business had revenue of $158.80 million for the quarter, compared to analysts’ expectations of $153.87 million. NovoCure had a negative return on equity of 47.74% and a negative net margin of 27.13%.The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.31) EPS. As a group, sell-side analysts forecast that NovoCure will post -1.3 earnings per share for the current fiscal year.

Insider Buying and Selling at NovoCure

In other NovoCure news, CEO Ashley Cordova bought 81,550 shares of the firm’s stock in a transaction dated Friday, September 5th. The stock was acquired at an average price of $12.22 per share, with a total value of $996,541.00. Following the completion of the transaction, the chief executive officer directly owned 437,569 shares in the company, valued at approximately $5,347,093.18. This represents a 22.91% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christoph Brackmann bought 20,000 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The stock was acquired at an average cost of $11.59 per share, with a total value of $231,800.00. Following the transaction, the chief financial officer owned 141,150 shares of the company’s stock, valued at $1,635,928.50. This trade represents a 16.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 5.52% of the company’s stock.

Institutional Trading of NovoCure

Hedge funds and other institutional investors have recently modified their holdings of the business. GF Fund Management CO. LTD. acquired a new stake in shares of NovoCure in the fourth quarter worth $68,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of NovoCure by 17.1% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,307 shares of the medical equipment provider’s stock worth $77,000 after buying an additional 629 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of NovoCure in the first quarter worth $87,000. Headlands Technologies LLC acquired a new stake in shares of NovoCure in the second quarter worth $88,000. Finally, Russell Investments Group Ltd. boosted its position in shares of NovoCure by 463.8% in the first quarter. Russell Investments Group Ltd. now owns 6,529 shares of the medical equipment provider’s stock worth $116,000 after buying an additional 5,371 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.