NovoCure Limited (NASDAQ:NVCR) Receives Average Recommendation of “Hold” from Brokerages

Shares of NovoCure Limited (NASDAQ:NVCR) have been given a consensus rating of “Hold” by the seven research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $26.9167.

Several research analysts have recently issued reports on NVCR shares. HC Wainwright upped their price target on shares of NovoCure from $38.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NovoCure in a report on Wednesday, October 8th. Wedbush reiterated a “neutral” rating and issued a $18.00 target price on shares of NovoCure in a research report on Tuesday, September 30th. Finally, JPMorgan Chase & Co. reduced their price target on NovoCure from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday, October 27th.

Hedge Funds Weigh In On NovoCure

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SJS Investment Consulting Inc. acquired a new position in shares of NovoCure during the third quarter worth $41,000. Larson Financial Group LLC raised its position in NovoCure by 662.1% during the 3rd quarter. Larson Financial Group LLC now owns 4,100 shares of the medical equipment provider’s stock worth $53,000 after purchasing an additional 3,562 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in NovoCure by 17.1% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,307 shares of the medical equipment provider’s stock worth $77,000 after purchasing an additional 629 shares during the last quarter. Acadian Asset Management LLC acquired a new position in NovoCure during the 1st quarter worth about $87,000. Finally, Headlands Technologies LLC bought a new stake in shares of NovoCure in the 2nd quarter valued at about $88,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

NovoCure Stock Up 0.3%

NVCR stock opened at $13.48 on Friday. The firm has a 50-day moving average price of $12.53 and a 200-day moving average price of $13.54. NovoCure has a 12 month low of $10.70 and a 12 month high of $32.06. The company has a current ratio of 1.55, a quick ratio of 1.50 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $1.51 billion, a P/E ratio of -8.37 and a beta of 0.83.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, October 30th. The medical equipment provider reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. The business had revenue of $167.20 million during the quarter, compared to analysts’ expectations of $158.81 million. NovoCure had a negative net margin of 27.66% and a negative return on equity of 50.29%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.28) EPS. As a group, equities research analysts anticipate that NovoCure will post -1.3 EPS for the current fiscal year.

About NovoCure

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.