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

Shares of NovoCure Limited (NASDAQ:NVCR) have been given an average recommendation of “Hold” by the seven analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $21.20.

Several analysts recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on NovoCure in a research note on Monday, July 13th. They issued a “neutral” rating and a $17.00 price target for the company. Wells Fargo & Company raised their price target on shares of NovoCure from $13.50 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Weiss Ratings raised shares of NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. Evercore restated an “outperform” rating on shares of NovoCure in a research report on Friday, May 1st. Finally, Zacks Research raised shares of NovoCure from a “strong sell” rating to a “hold” rating in a report on Friday, July 24th.

NovoCure Stock Performance

Shares of NVCR stock opened at $16.39 on Monday. The firm has a 50 day moving average price of $16.29 and a two-hundred day moving average price of $14.27. The company has a quick ratio of 2.70, a current ratio of 2.89 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $1.91 billion, a PE ratio of -12.61 and a beta of 0.96. NovoCure has a 12-month low of $9.82 and a 12-month high of $21.45.

NovoCure (NASDAQ:NVCR) last posted its earnings results on Thursday, July 23rd. The medical equipment provider reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.20. The company had revenue of $183.58 million for the quarter, compared to the consensus estimate of $172.44 million. NovoCure had a negative return on equity of 44.00% and a negative net margin of 21.25%.The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.36) earnings per share. As a group, analysts predict that NovoCure will post -1.21 earnings per share for the current year.

Insider Buying and Selling at NovoCure

In other news, Director W Anthony Vernon sold 2,945 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total transaction of $46,442.65. Following the completion of the sale, the director directly owned 197,657 shares in the company, valued at approximately $3,117,050.89. This represents a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Frank X. Leonard sold 34,273 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $17.93, for a total value of $614,514.89. Following the sale, the chief executive officer directly owned 459,520 shares in the company, valued at approximately $8,239,193.60. This trade represents a 6.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 51,943 shares of company stock valued at $893,171 over the last ninety days. 6.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC bought a new position in NovoCure in the 4th quarter valued at about $33,000. Kestra Advisory Services LLC bought a new stake in shares of NovoCure during the 4th quarter worth approximately $49,000. Larson Financial Group LLC lifted its holdings in shares of 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 acquiring an additional 3,562 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of 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 acquiring an additional 1,120 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of NovoCure in the 1st quarter valued at $87,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.