Analysts Set NovoCure Limited (NASDAQ:NVCR) PT at $27.29

Shares of NovoCure Limited (NASDAQ:NVCR) have been given an average recommendation of “Hold” by the eight research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $27.2857.

Several analysts recently weighed in on NVCR shares. HC Wainwright boosted their price objective on NovoCure from $47.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Wedbush reiterated a “neutral” rating and issued a $18.00 price target on shares of NovoCure in a report on Thursday, April 16th. Evercore restated an “outperform” rating on shares of NovoCure in a research note on Friday, May 1st. Wells Fargo & Company lifted their price objective on shares of NovoCure from $13.50 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of NovoCure in a research report on Tuesday, April 21st.

Insiders Place Their Bets

In other NovoCure news, COO Mukund Paravasthu sold 43,246 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $13.77, for a total transaction of $595,497.42. Following the completion of the transaction, the chief operating officer owned 72,832 shares in the company, valued at approximately $1,002,896.64. The trade was a 37.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Uri Weinberg sold 6,412 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 value of $85,343.72. Following the completion of the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 140,041 shares of company stock worth $1,860,116. 5.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NovoCure

Hedge funds have recently modified their holdings of the company. Empowered Funds LLC acquired a new position in shares of NovoCure in the 4th quarter worth approximately $33,000. Kestra Advisory Services LLC acquired a new stake in shares of NovoCure during the fourth quarter worth $49,000. Larson Financial Group LLC boosted its position in shares of NovoCure by 662.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,100 shares of the medical equipment provider’s stock valued at $53,000 after purchasing an additional 3,562 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in NovoCure by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,442 shares of the medical equipment provider’s stock worth $70,000 after buying an additional 1,120 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in NovoCure during the first quarter valued at about $87,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

NovoCure Price Performance

Shares of NASDAQ NVCR opened at $17.96 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.90 and a quick ratio of 2.70. NovoCure has a 1-year low of $9.82 and a 1-year high of $20.06. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of -11.74 and a beta of 0.90. The business has a 50-day moving average of $13.37 and a 200-day moving average of $12.83.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). NovoCure had a negative net margin of 25.66% and a negative return on equity of 50.82%. The firm had revenue of $174.06 million for the quarter, compared to analysts’ expectations of $167.77 million. During the same quarter in the prior year, the business earned ($0.31) EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities analysts anticipate that NovoCure will post -1.55 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.