Brokerages Set NovoCure Limited (NASDAQ:NVCR) Target Price at $25.50

Shares of NovoCure Limited (NASDAQ:NVCR) have earned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $25.50.

NVCR has been the topic of a number of research reports. Wedbush reissued an “outperform” rating and set a $24.00 target price on shares of NovoCure in a report on Thursday, July 25th. Evercore ISI increased their price objective on shares of NovoCure from $14.50 to $20.00 and gave the stock an “in-line” rating in a report on Tuesday, July 2nd. Wells Fargo & Company dropped their price objective on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. Finally, HC Wainwright increased their price objective on shares of NovoCure from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, July 26th.

Hedge Funds Weigh In On NovoCure

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of NovoCure by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 9,759,098 shares of the medical equipment provider’s stock valued at $145,703,000 after purchasing an additional 122,105 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of NovoCure in the fourth quarter worth about $811,000. SG Americas Securities LLC boosted its holdings in shares of NovoCure by 57.3% in the first quarter. SG Americas Securities LLC now owns 359,518 shares of the medical equipment provider’s stock worth $5,619,000 after buying an additional 130,927 shares during the period. Victory Capital Management Inc. acquired a new position in shares of NovoCure in the fourth quarter worth about $195,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of NovoCure by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,378,940 shares of the medical equipment provider’s stock worth $37,184,000 after buying an additional 125,715 shares during the period. Institutional investors own 84.61% of the company’s stock.

NovoCure Trading Down 4.0 %

NASDAQ NVCR opened at $17.50 on Thursday. NovoCure has a 12 month low of $10.87 and a 12 month high of $31.73. The company has a debt-to-equity ratio of 1.81, a current ratio of 6.46 and a quick ratio of 6.22. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -9.67 and a beta of 0.70. The company’s fifty day moving average price is $19.09 and its two-hundred day moving average price is $17.12.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, July 25th. The medical equipment provider reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.09. The firm had revenue of $150.40 million for the quarter, compared to the consensus estimate of $135.83 million. NovoCure had a negative net margin of 30.67% and a negative return on equity of 45.68%. The firm’s revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.54) EPS. As a group, research analysts predict that NovoCure will post -1.34 earnings per share 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.