NovoCure Limited (NASDAQ:NVCR) Given Average Recommendation of “Hold” by Analysts

NovoCure Limited (NASDAQ:NVCRGet Free Report) has received an average rating of “Hold” from the eight analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $26.9286.

A number of research analysts recently commented on the stock. Evercore reiterated an “outperform” rating on shares of NovoCure in a research note on Friday. Wedbush restated a “neutral” rating and set a $18.00 price objective on shares of NovoCure in a report on Thursday, April 16th. HC Wainwright upped their target price on NovoCure from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of NovoCure in a research note on Tuesday, April 21st.

Read Our Latest Stock Report on NovoCure

NovoCure Trading Up 9.3%

NVCR stock opened at $16.62 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.90 and a quick ratio of 2.71. The company has a fifty day moving average price of $12.11 and a two-hundred day moving average price of $12.45. NovoCure has a one year low of $9.82 and a one year high of $20.06. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of -13.62 and a beta of 0.90.

NovoCure (NASDAQ:NVCRGet Free Report) last issued its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.11). The company had revenue of $174.06 million during the quarter, compared to the consensus estimate of $167.77 million. NovoCure had a negative net margin of 25.66% and a negative return on equity of 50.34%. NovoCure’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.31) earnings per share. Equities analysts anticipate that NovoCure will post -1.51 EPS for the current year.

Key Headlines Impacting NovoCure

Here are the key news stories impacting NovoCure this week:

Insider Transactions at NovoCure

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Counterpoint Mutual Funds LLC increased its holdings in shares of NovoCure by 27.9% during the first quarter. Counterpoint Mutual Funds LLC now owns 49,382 shares of the medical equipment provider’s stock worth $538,000 after purchasing an additional 10,777 shares during the period. Strs Ohio boosted its stake in shares of NovoCure by 2.2% in the first quarter. Strs Ohio now owns 59,400 shares of the medical equipment provider’s stock valued at $647,000 after buying an additional 1,300 shares during the period. Pictet Asset Management Holding SA boosted its stake in shares of NovoCure by 23.8% in the first quarter. Pictet Asset Management Holding SA now owns 19,845 shares of the medical equipment provider’s stock valued at $216,000 after buying an additional 3,811 shares during the period. Venturi Wealth Management LLC acquired a new stake in NovoCure during the first quarter worth approximately $123,000. Finally, SG Americas Securities LLC grew its position in NovoCure by 346.7% during the first quarter. SG Americas Securities LLC now owns 1,245,541 shares of the medical equipment provider’s stock worth $13,576,000 after buying an additional 966,735 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

About NovoCure

(Get Free Report)

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.

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Analyst Recommendations for NovoCure (NASDAQ:NVCR)

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