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

NovoCure Limited (NASDAQ:NVCR) has earned a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $33.25.

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on NovoCure from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. Wells Fargo & Company cut their price objective on NovoCure from $49.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Wedbush reissued a “neutral” rating and issued a $21.00 price objective on shares of NovoCure in a report on Wednesday, March 27th. HC Wainwright increased their price objective on NovoCure from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, March 27th. Finally, Evercore ISI increased their price objective on NovoCure from $14.00 to $15.00 and gave the company an “in-line” rating in a report on Friday, February 23rd.

NovoCure Trading Up 4.9 %

NovoCure stock opened at $14.88 on Friday. The stock has a 50-day moving average of $15.03 and a two-hundred day moving average of $14.16. The company has a debt-to-equity ratio of 1.57, a quick ratio of 5.56 and a current ratio of 5.78. NovoCure has a one year low of $10.87 and a one year high of $83.60. The stock has a market cap of $1.59 billion, a PE ratio of -7.63 and a beta of 0.42.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, February 22nd. The medical equipment provider reported ($0.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.08. The business had revenue of $133.80 million for the quarter, compared to analyst estimates of $133.80 million. NovoCure had a negative return on equity of 51.63% and a negative net margin of 40.65%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.36) earnings per share. On average, research analysts anticipate that NovoCure will post -1.78 EPS for the current fiscal year.

Insider Buying and Selling

In other NovoCure news, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $33,775.21. Following the sale, the chief operating officer now directly owns 252,452 shares of the company’s stock, valued at $4,046,805.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other NovoCure news, EVP Frank X. Leonard sold 1,679 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $26,914.37. Following the sale, the executive vice president now directly owns 160,938 shares of the company’s stock, valued at $2,579,836.14. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $16.03, for a total value of $33,775.21. Following the completion of the sale, the chief operating officer now directly owns 252,452 shares in the company, valued at $4,046,805.56. The disclosure for this sale can be found here. Insiders have sold a total of 7,921 shares of company stock valued at $127,161 over the last ninety days. Company insiders own 5.67% of the company’s stock.

Hedge Funds Weigh In On NovoCure

Several hedge funds and other institutional investors have recently made changes to their positions in NVCR. UMB Bank n.a. purchased a new position in shares of NovoCure in the third quarter valued at approximately $26,000. UniSuper Management Pty Ltd purchased a new position in shares of NovoCure in the second quarter valued at approximately $29,000. China Universal Asset Management Co. Ltd. lifted its position in shares of NovoCure by 96.8% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,739 shares of the medical equipment provider’s stock valued at $44,000 after acquiring an additional 1,347 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of NovoCure by 278.0% in the first quarter. GAMMA Investing LLC now owns 2,880 shares of the medical equipment provider’s stock valued at $45,000 after acquiring an additional 2,118 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of NovoCure by 46.1% in the fourth quarter. US Bancorp DE now owns 3,737 shares of the medical equipment provider’s stock valued at $56,000 after acquiring an additional 1,179 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.