NovoCure Limited (NASDAQ:NVCR) Stock Has Average Target Price of $21.20 According to Brokerages

Shares of NovoCure Limited (NASDAQ:NVCR) have received an average recommendation of “Hold” from the seven analysts that are currently covering the company, Marketbeat 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 twelve-month price target among analysts that have issued a report on the stock in the last year is $21.20.

A number of research firms recently issued reports on NVCR. HC Wainwright set a $32.00 price objective on NovoCure in a report on Friday, July 24th. Wall Street Zen cut NovoCure from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Wedbush upped 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. Zacks Research raised shares of NovoCure from a “strong sell” rating to a “hold” rating in a research note on Friday, July 24th. Finally, JPMorgan Chase & Co. began coverage on shares of NovoCure in a report on Monday, July 13th. They issued a “neutral” rating and a $17.00 price objective on the stock.

NovoCure Stock Down 0.3%

Shares of NVCR stock opened at $16.20 on Tuesday. NovoCure has a 12-month low of $9.82 and a 12-month high of $21.45. The company has a quick ratio of 2.70, a current ratio of 2.89 and a debt-to-equity ratio of 0.58. The firm has a fifty day moving average of $16.79 and a 200-day moving average of $15.42. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -12.46 and a beta of 1.01.

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

Institutional Trading of NovoCure

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC lifted its stake in NovoCure by 34.6% in the second quarter. Tidal Investments LLC now owns 77,252 shares of the medical equipment provider’s stock valued at $1,170,000 after acquiring an additional 19,873 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of NovoCure in the 2nd quarter valued at about $84,000. Allworth Financial LP lifted its stake in NovoCure by 182.0% in the 2nd quarter. Allworth Financial LP now owns 2,721 shares of the medical equipment provider’s stock valued at $41,000 after purchasing an additional 1,756 shares during the last quarter. Allianz Asset Management GmbH acquired a new stake in NovoCure in the 2nd quarter valued at about $2,248,000. Finally, Coppell Advisory Solutions LLC bought a new position in NovoCure during the second quarter worth about $590,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

NovoCure Company Profile

NovoCure Ltd. (NASDAQ: NVCR) is an oncology company that develops and commercializes Tumor Treating Fields (TTFields), a noninvasive therapy that uses low-intensity, intermediate-frequency electric fields to disrupt the division of cancer cells. The company’s technology is designed to be used alongside other cancer treatments and is delivered through a portable device and transducer arrays placed on the patient’s body.

NovoCure’s principal commercial products include Optune Gio, used with other treatments for adults with certain forms of glioblastoma, and Optune Lua, approved in the United States for use with certain therapies in adults with unresectable, locally advanced or metastatic malignant pleural mesothelioma.