Brokerages Set NovoCure Limited (NASDAQ:NVCR) Price Target at $21.20

Shares of NovoCure Limited (NASDAQ:NVCR) have been assigned an average recommendation of “Hold” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $21.20.

A number of research firms recently issued reports on NVCR. Weiss Ratings reissued a “sell (d-)” rating on shares of NovoCure in a research note on Thursday, August 27th. Wedbush lifted their price target on NovoCure from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. HC Wainwright set a $32.00 price objective on NovoCure in a research report on Friday, July 24th. JPMorgan Chase & Co. assumed coverage on shares of NovoCure in a research note on Monday, July 13th. They set a “neutral” rating and a $17.00 target price on the stock. Finally, Zacks Research upgraded NovoCure from a “strong sell” rating to a “hold” rating in a research note on Friday, July 24th.

NovoCure Price Performance

NVCR stock opened at $17.64 on Friday. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of -13.57 and a beta of 1.01. The firm’s 50-day moving average price is $16.78 and its two-hundred day moving average price is $15.01. The company has a current ratio of 2.89, a quick ratio of 2.70 and a debt-to-equity ratio of 0.58. NovoCure has a 12-month low of $9.82 and a 12-month high of $21.45.

NovoCure (NASDAQ:NVCR) last posted its earnings results on Thursday, July 23rd. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.20. The company had revenue of $183.58 million for the quarter, compared to analysts’ expectations of $172.44 million. NovoCure had a negative return on equity of 44.00% and a negative net margin of 21.25%.NovoCure’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period last year, the firm earned ($0.36) earnings per share. As a group, equities analysts predict that NovoCure will post -1.21 earnings per share for the current year.

Institutional Trading of NovoCure

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in NovoCure by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 10,958,209 shares of the medical equipment provider’s stock valued at $141,690,000 after acquiring an additional 502,368 shares in the last quarter. Sei Investments Co. increased its stake in NovoCure by 367.6% during the first quarter. Sei Investments Co. now owns 114,281 shares of the medical equipment provider’s stock worth $1,246,000 after acquiring an additional 89,839 shares during the last quarter. Eversept Partners LP bought a new position in shares of NovoCure during the 4th quarter valued at approximately $1,564,000. First Trust Advisors LP bought a new position in NovoCure during the first quarter valued at $1,028,000. Finally, Quantinno Capital Management LP grew its holdings in NovoCure by 23.7% during the 1st quarter. Quantinno Capital Management LP now owns 2,487,376 shares of the medical equipment provider’s stock valued at $27,112,000 after purchasing an additional 477,128 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

NovoCure Company Profile

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.