Analysts Set NovoCure Limited (NASDAQ:NVCR) Target Price at $26.93

NovoCure Limited (NASDAQ:NVCR) has been given a consensus recommendation of “Hold” by the seven research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $26.9286.

Several research analysts recently issued reports on NVCR shares. Evercore set a $20.00 price target on shares of NovoCure in a research note on Monday, January 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of NovoCure in a research note on Thursday, January 22nd. HC Wainwright increased their price target on shares of NovoCure from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, Wedbush reiterated a “neutral” rating and issued a $18.00 price target on shares of NovoCure in a research note on Thursday, January 15th.

Insider Buying and Selling

In related news, insider Uri Weinberg sold 6,412 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $13.31, for a total value of $85,343.72. Following the completion of the transaction, the insider directly owned 267,190 shares in the company, valued at $3,556,298.90. This trade represents a 2.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mukund Paravasthu sold 43,246 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $13.77, for a total transaction of $595,497.42. Following the completion of the transaction, the chief operating officer owned 72,832 shares of the company’s stock, valued at approximately $1,002,896.64. The trade was a 37.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 140,041 shares of company stock worth $1,860,116 over the last 90 days. Corporate insiders own 5.52% of the company’s stock.

Institutional Trading of NovoCure

Several institutional investors have recently bought and sold shares of NVCR. Morgan Stanley grew its position in NovoCure by 453.4% during the 4th quarter. Morgan Stanley now owns 5,069,895 shares of the medical equipment provider’s stock valued at $65,554,000 after purchasing an additional 4,153,741 shares during the last quarter. Soleus Capital Management L.P. grew its position in NovoCure by 25.0% during the 2nd quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider’s stock valued at $122,897,000 after purchasing an additional 1,382,888 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in NovoCure by 1,093.2% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,223,755 shares of the medical equipment provider’s stock valued at $15,823,000 after purchasing an additional 1,121,192 shares during the last quarter. American Century Companies Inc. grew its position in NovoCure by 1,354.7% during the 2nd quarter. American Century Companies Inc. now owns 1,029,874 shares of the medical equipment provider’s stock valued at $18,332,000 after purchasing an additional 959,079 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in NovoCure during the 4th quarter valued at about $11,991,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

NovoCure Price Performance

Shares of NASDAQ NVCR opened at $10.55 on Tuesday. The company has a current ratio of 2.90, a quick ratio of 2.71 and a debt-to-equity ratio of 0.70. NovoCure has a 12 month low of $9.82 and a 12 month high of $20.06. The firm has a market capitalization of $1.20 billion, a PE ratio of -8.65 and a beta of 0.82. The firm has a fifty day simple moving average of $11.88 and a two-hundred day simple moving average of $12.63.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings data on Thursday, February 26th. The medical equipment provider reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.19. The business had revenue of $174.35 million during the quarter, compared to analyst estimates of $174.40 million. NovoCure had a negative net margin of 20.79% and a negative return on equity of 39.11%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.61) EPS. Equities analysts expect that NovoCure will post -1.3 earnings per share for the current year.

NovoCure Company Profile

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.