NovoCure Limited (NASDAQ:NVCR) Receives $26.93 Average Target Price from Brokerages

Shares of NovoCure Limited (NASDAQ:NVCR) have received a consensus recommendation of “Hold” from the seven analysts that are currently covering the firm, MarketBeat.com reports. One equities research 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 price target among analysts that have issued a report on the stock in the last year is $26.9286.

A number of equities analysts have weighed in on NVCR shares. Evercore set a $20.00 price objective on shares of NovoCure in a research report on Monday, January 5th. HC Wainwright boosted their price target on NovoCure from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of NovoCure in a report on Thursday, January 22nd. Finally, Wedbush restated a “neutral” rating and set a $18.00 price objective on shares of NovoCure in a research note on Thursday, January 15th.

Insider Activity at NovoCure

In other news, CEO Frank X. Leonard sold 5,607 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $13.31, for a total transaction of $74,629.17. Following the completion of the sale, the chief executive officer owned 493,793 shares of the company’s stock, valued at approximately $6,572,384.83. This trade represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Uri Weinberg sold 6,412 shares of NovoCure stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $13.31, for a total transaction of $85,343.72. Following the completion of the sale, the insider owned 267,190 shares of the company’s stock, valued at approximately $3,556,298.90. This trade represents a 2.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 140,041 shares of company stock worth $1,860,116. 5.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NovoCure

Several hedge funds and other institutional investors have recently modified their holdings of NVCR. Empowered Funds LLC acquired a new stake in shares of NovoCure in the 4th quarter valued at about $33,000. SJS Investment Consulting Inc. acquired a new position in NovoCure in the third quarter worth about $41,000. Kestra Advisory Services LLC bought a new stake in NovoCure in the fourth quarter valued at about $49,000. Larson Financial Group LLC increased its holdings in NovoCure by 662.1% in the third quarter. Larson Financial Group LLC now owns 4,100 shares of the medical equipment provider’s stock valued at $53,000 after buying an additional 3,562 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in NovoCure by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,442 shares of the medical equipment provider’s stock valued at $70,000 after buying an additional 1,120 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

NovoCure Trading Down 2.7%

NVCR opened at $10.55 on Tuesday. The firm’s 50 day moving average is $11.99 and its 200-day moving average is $12.66. NovoCure has a 52-week low of $9.82 and a 52-week high of $20.06. The company has a quick ratio of 2.71, a current ratio of 2.90 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $1.20 billion, a P/E ratio of -8.65 and a beta of 0.82.

NovoCure (NASDAQ:NVCR) last announced its earnings results on Thursday, February 26th. The medical equipment provider reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.19. NovoCure had a negative net margin of 20.79% and a negative return on equity of 39.11%. The business had revenue of $174.35 million during the quarter, compared to the consensus estimate of $174.40 million. During the same period in the prior year, the firm earned ($0.61) earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. Analysts expect 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.