Novocure Ltd (NASDAQ:NVCR) Given Average Rating of “Hold” by Analysts

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Novocure Ltd (NASDAQ:NVCR) has been given an average rating of “Hold” by the ten research firms that are currently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $86.75.

A number of analysts recently weighed in on the stock. Wedbush cut shares of Novocure from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $57.00 to $80.00 in a research note on Friday, July 26th. Zacks Investment Research cut shares of Novocure from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. TheStreet upgraded shares of Novocure from a “d” rating to a “c-” rating in a research note on Friday, July 26th. ValuEngine cut shares of Novocure from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, BidaskClub upgraded shares of Novocure from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th.

In other news, CFO Wilhelmus Cm Groenhuysen sold 27,576 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $81.87, for a total value of $2,257,647.12. Following the completion of the transaction, the chief financial officer now owns 97,179 shares in the company, valued at approximately $7,956,044.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles G. Phillips III sold 22,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $91.14, for a total transaction of $2,005,080.00. Following the completion of the transaction, the director now owns 31,504 shares of the company’s stock, valued at approximately $2,871,274.56. The disclosure for this sale can be found here. Insiders sold a total of 549,390 shares of company stock valued at $46,731,164 in the last 90 days. Company insiders own 5.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Legacy Bridge LLC boosted its stake in shares of Novocure by 666.7% during the 3rd quarter. Legacy Bridge LLC now owns 460 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 400 shares during the last quarter. Point72 Hong Kong Ltd boosted its stake in shares of Novocure by 1,337.1% during the 2nd quarter. Point72 Hong Kong Ltd now owns 503 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 468 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Novocure during the 3rd quarter worth about $48,000. Princeton Global Asset Management LLC acquired a new stake in shares of Novocure during the 2nd quarter worth about $63,000. Finally, Quantamental Technologies LLC acquired a new stake in shares of Novocure during the 2nd quarter worth about $66,000. Institutional investors and hedge funds own 66.39% of the company’s stock.

Shares of NASDAQ:NVCR opened at $83.98 on Monday. The stock has a market cap of $8.16 billion, a P/E ratio of -121.71 and a beta of 2.34. The firm has a fifty day moving average price of $75.48 and a 200 day moving average price of $70.44. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.06 and a quick ratio of 4.76. Novocure has a 1-year low of $26.02 and a 1-year high of $98.70.

Novocure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, October 31st. The medical equipment provider reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.07. The firm had revenue of $92.06 million during the quarter, compared to analysts’ expectations of $87.12 million. Novocure had a negative net margin of 8.43% and a negative return on equity of 18.45%. Novocure’s quarterly revenue was up 42.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.13) EPS. Sell-side analysts expect that Novocure will post -0.13 EPS for the current fiscal year.

Novocure Company Profile

Novocure Ltd. is global oncology company, which engages in the development and commercialization of its innovative therapy. It focuses on the commercial adoption of Optune, and its Tumor Treating Fields delivery system, for the treatment of glioblastoma (GBM), and to advance programs testing the efficacy and safety of Optune in multiple solid tumor indications through clinical pipeline.

Further Reading: How to Invest in Growth Stocks

Analyst Recommendations for Novocure (NASDAQ:NVCR)

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