NovoCure Limited (NASDAQ:NVCR) Receives $35.80 Average Price Target from Brokerages

Shares of NovoCure Limited (NASDAQ:NVCR) have been assigned a consensus rating of “Moderate Buy” from the five research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $35.80.

A number of analysts recently weighed in on NVCR shares. Wedbush reissued a “neutral” rating and issued a $29.00 price objective on shares of NovoCure in a research report on Monday, January 13th. Piper Sandler increased their price target on NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Evercore ISI upgraded NovoCure from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $18.00 to $30.00 in a report on Monday, December 2nd. StockNews.com upgraded NovoCure from a “sell” rating to a “hold” rating in a research note on Tuesday, March 18th. Finally, HC Wainwright reiterated a “buy” rating and set a $38.00 target price on shares of NovoCure in a research report on Tuesday, January 14th.

Institutional Investors Weigh In On NovoCure

Several hedge funds have recently made changes to their positions in NVCR. Summit Investment Advisors Inc. raised its holdings in shares of NovoCure by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,141 shares of the medical equipment provider’s stock valued at $332,000 after acquiring an additional 708 shares in the last quarter. Blue Trust Inc. increased its position in NovoCure by 70.7% during the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after purchasing an additional 781 shares during the period. Versant Capital Management Inc raised its holdings in shares of NovoCure by 35.8% in the 4th quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock valued at $100,000 after purchasing an additional 880 shares in the last quarter. GeoWealth Management LLC purchased a new stake in shares of NovoCure in the 4th quarter worth approximately $27,000. Finally, Lindbrook Capital LLC boosted its stake in shares of NovoCure by 189.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock valued at $55,000 after purchasing an additional 1,213 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

NovoCure Price Performance

Shares of NovoCure stock opened at $18.97 on Friday. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of -13.55 and a beta of 0.63. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. The stock has a 50 day moving average price of $21.87 and a 200-day moving average price of $21.60. NovoCure has a one year low of $11.70 and a one year high of $34.13.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, February 27th. The medical equipment provider reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.27). NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The firm had revenue of $161.27 million for the quarter, compared to analysts’ expectations of $161.30 million. Equities analysts expect that NovoCure will post -1.3 EPS for the current 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.