NovoCure Limited (NASDAQ:NVCR) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of NovoCure Limited (NASDAQ:NVCR) have been assigned an average rating of “Moderate Buy” from the five brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $35.80.

NVCR has been the subject of several analyst reports. Wedbush reiterated a “neutral” rating and set a $29.00 price objective on shares of NovoCure in a report on Monday, January 13th. StockNews.com upgraded NovoCure from a “sell” rating to a “hold” rating in a research note on Tuesday, March 18th. HC Wainwright restated a “buy” rating and set a $38.00 price target on shares of NovoCure in a research note on Tuesday, January 14th. Evercore ISI upgraded shares of NovoCure from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $18.00 to $30.00 in a report on Monday, December 2nd. Finally, Piper Sandler lifted their target price on shares of NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th.

NovoCure Price Performance

NVCR opened at $18.97 on Friday. The firm has a market capitalization of $2.09 billion, a PE ratio of -13.55 and a beta of 0.63. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. The business’s 50-day moving average is $21.87 and its two-hundred day moving average is $21.60. NovoCure has a 1 year low of $11.70 and a 1 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). The firm had revenue of $161.27 million for the quarter, compared to the consensus estimate of $161.30 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. Research analysts anticipate that NovoCure will post -1.3 earnings per share for the current fiscal year.

Institutional Trading of NovoCure

Several large investors have recently made changes to their positions in the business. GeoWealth Management LLC purchased a new position in shares of NovoCure during the fourth quarter worth $27,000. Lindbrook Capital LLC raised its stake in shares of NovoCure by 189.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock valued at $55,000 after buying an additional 1,213 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of NovoCure by 70.7% in the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after buying an additional 781 shares during the period. GF Fund Management CO. LTD. purchased a new stake in shares of NovoCure in the fourth quarter worth about $68,000. Finally, SBI Securities Co. Ltd. acquired a new stake in NovoCure during the fourth quarter worth about $70,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

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.