NovoCure Limited (NASDAQ:NVCR) Receives $25.50 Consensus Target Price from Analysts

NovoCure Limited (NASDAQ:NVCR) has received a consensus rating of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $25.50.

NVCR has been the topic of a number of recent research reports. HC Wainwright cut their target price on shares of NovoCure from $42.00 to $39.00 and set a “buy” rating on the stock in a report on Tuesday, January 13th. Wedbush reaffirmed a “neutral” rating and set a $18.00 price target on shares of NovoCure in a research note on Thursday, January 15th. JPMorgan Chase & Co. lowered their price objective on shares of NovoCure from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. Weiss Ratings restated a “sell (e+)” rating on shares of NovoCure in a report on Wednesday, October 8th. Finally, Evercore ISI set a $20.00 price target on shares of NovoCure in a research report on Monday, January 5th.

NovoCure Price Performance

Shares of NVCR stock opened at $13.56 on Thursday. The firm has a fifty day simple moving average of $12.88 and a 200-day simple moving average of $13.07. The company has a market capitalization of $1.52 billion, a PE ratio of -8.42 and a beta of 0.73. NovoCure has a twelve month low of $10.70 and a twelve month high of $27.43. The company has a current ratio of 1.55, a quick ratio of 1.50 and a debt-to-equity ratio of 0.57.

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

Institutional Investors Weigh In On NovoCure

Hedge funds have recently modified their holdings of the stock. Soleus Capital Management L.P. increased its stake in NovoCure by 25.0% in the 2nd quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider’s stock worth $122,897,000 after purchasing an additional 1,382,888 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of NovoCure by 38.8% during the second quarter. Balyasny Asset Management L.P. now owns 2,270,076 shares of the medical equipment provider’s stock valued at $40,407,000 after buying an additional 634,925 shares in the last quarter. Quantinno Capital Management LP grew its holdings in shares of NovoCure by 38.5% during the 2nd quarter. Quantinno Capital Management LP now owns 1,368,663 shares of the medical equipment provider’s stock valued at $24,362,000 after acquiring an additional 380,411 shares in the last quarter. Millennium Management LLC increased its stake in shares of NovoCure by 106.5% in the third quarter. Millennium Management LLC now owns 1,335,490 shares of the medical equipment provider’s stock worth $17,255,000 after acquiring an additional 688,710 shares during the last quarter. Finally, Palo Alto Investors LP increased its stake in shares of NovoCure by 30.5% in the third quarter. Palo Alto Investors LP now owns 1,256,159 shares of the medical equipment provider’s stock worth $16,230,000 after acquiring an additional 293,763 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

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.