NovoCure Limited (NVCR) Receives Consensus Recommendation of “Buy” from Analysts
Shares of NovoCure Limited (NASDAQ:NVCR) have been assigned an average rating of “Buy” from the ten ratings firms that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $20.14.
Several brokerages have recently weighed in on NVCR. Mizuho began coverage on shares of NovoCure Limited in a research note on Wednesday. They set a “buy” rating and a $25.00 price target on the stock. Zacks Investment Research cut shares of NovoCure Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub upgraded shares of NovoCure Limited from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. Deutsche Bank AG restated a “hold” rating and set a $19.00 target price (up previously from $18.00) on shares of NovoCure Limited in a research note on Monday, July 17th. Finally, ValuEngine upgraded shares of NovoCure Limited from a “sell” rating to a “hold” rating in a research note on Saturday, June 3rd.
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Shares of NovoCure Limited (NASDAQ:NVCR) opened at 20.50 on Friday. NovoCure Limited has a one year low of $5.95 and a one year high of $21.75. The company’s market cap is $1.82 billion. The firm’s 50-day moving average is $19.42 and its 200-day moving average is $13.93.
NovoCure Limited (NASDAQ:NVCR) last issued its earnings results on Thursday, July 27th. The medical equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by $0.01. The company had revenue of $38.38 million during the quarter, compared to analysts’ expectations of $42.20 million. NovoCure Limited had a negative return on equity of 69.48% and a negative net margin of 75.91%. On average, equities analysts anticipate that NovoCure Limited will post ($0.75) EPS for the current year.
In other news, major shareholder Pomona Capital Vii Fund Invest sold 1,072,532 shares of the business’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $17.35, for a total value of $18,608,430.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Asaf Danziger sold 180,601 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $15.13, for a total transaction of $2,732,493.13. Following the completion of the sale, the chief executive officer now owns 1,163,296 shares in the company, valued at $17,600,668.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,213,697 shares of company stock worth $37,828,350. 16.70% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of NVCR. Teachers Advisors LLC increased its holdings in shares of NovoCure Limited by 21.2% in the 4th quarter. Teachers Advisors LLC now owns 95,674 shares of the medical equipment provider’s stock worth $751,000 after buying an additional 16,741 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in NovoCure Limited by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 173,523 shares of the medical equipment provider’s stock valued at $1,406,000 after purchasing an additional 2,480 shares during the last quarter. American International Group Inc. grew its holdings in NovoCure Limited by 7.1% during the 1st quarter. American International Group Inc. now owns 31,191 shares of the medical equipment provider’s stock valued at $253,000 after purchasing an additional 2,065 shares during the last quarter. River & Mercantile Asset Management LLP bought a new position in NovoCure Limited during the 1st quarter valued at about $937,000. Finally, Vanguard Group Inc. grew its holdings in NovoCure Limited by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 3,047,940 shares of the medical equipment provider’s stock valued at $24,688,000 after purchasing an additional 325,512 shares during the last quarter. Hedge funds and other institutional investors own 36.84% of the company’s stock.
NovoCure Limited Company Profile
NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.
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