NovoCure Limited (NASDAQ:NVCR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of NovoCure Limited (NASDAQ:NVCR) have been given an average rating of “Moderate Buy” by the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $26.17.

NVCR has been the subject of a number of recent analyst reports. Wells Fargo & Company reduced their target price on NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, July 26th. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of NovoCure in a research report on Thursday. Finally, Evercore ISI cut their price objective on shares of NovoCure from $21.00 to $18.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st.

Hedge Funds Weigh In On NovoCure

Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its position in NovoCure by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider’s stock valued at $37,601,000 after acquiring an additional 29,871 shares in the last quarter. Weiss Asset Management LP purchased a new position in NovoCure during the third quarter valued at $735,000. IHT Wealth Management LLC bought a new stake in shares of NovoCure during the 3rd quarter valued at $180,000. Holocene Advisors LP grew its position in shares of NovoCure by 42.9% in the 3rd quarter. Holocene Advisors LP now owns 74,248 shares of the medical equipment provider’s stock worth $1,160,000 after buying an additional 22,276 shares during the period. Finally, Centiva Capital LP bought a new position in shares of NovoCure in the 3rd quarter worth about $214,000. 84.61% of the stock is owned by institutional investors.

NovoCure Trading Up 3.7 %

Shares of NASDAQ:NVCR opened at $17.73 on Friday. The company has a 50-day moving average price of $16.50 and a two-hundred day moving average price of $18.33. NovoCure has a twelve month low of $11.29 and a twelve month high of $24.74. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. The business had revenue of $155.10 million during the quarter, compared to analyst estimates of $143.95 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. NovoCure’s revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.46) EPS. On average, equities analysts predict that NovoCure will post -1.31 EPS for the current year.

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.