NovoCure Limited (NVCR) Receives Consensus Rating of “Buy” from Analysts
Shares of NovoCure Limited (NASDAQ:NVCR) have been given a consensus rating of “Buy” by the ten research firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $20.14.
A number of equities research analysts have weighed in on NVCR shares. Zacks Investment Research lowered shares of NovoCure Limited from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub downgraded shares of NovoCure Limited from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Deutsche Bank AG reaffirmed a “hold” rating and set a $19.00 price target (up previously from $18.00) on shares of NovoCure Limited in a research note on Monday, July 17th. Finally, Mizuho began coverage on shares of NovoCure Limited in a report on Wednesday, September 6th. They set a “buy” rating and a $25.00 price target on the stock.
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In other news, CEO Asaf Danziger sold 37,272 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $22.01, for a total value of $820,356.72. Following the transaction, the chief executive officer now owns 776,862 shares in the company, valued at approximately $17,098,732.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 515,552 shares of company stock valued at $9,631,418. Company insiders own 16.70% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Teachers Advisors LLC raised its stake in NovoCure Limited by 21.2% during the fourth 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 lifted its holdings in NovoCure Limited by 1.4% in the first 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 buying an additional 2,480 shares during the period. American International Group Inc. lifted its holdings in NovoCure Limited by 7.1% in the first quarter. American International Group Inc. now owns 31,191 shares of the medical equipment provider’s stock valued at $253,000 after buying an additional 2,065 shares during the period. Vanguard Group Inc. lifted its holdings in NovoCure Limited by 12.0% in the first quarter. Vanguard Group Inc. now owns 3,047,940 shares of the medical equipment provider’s stock valued at $24,688,000 after buying an additional 325,512 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in NovoCure Limited by 14.6% in the first quarter. Geode Capital Management LLC now owns 128,632 shares of the medical equipment provider’s stock valued at $1,041,000 after buying an additional 16,411 shares during the period. Institutional investors own 36.84% of the company’s stock.
Shares of NovoCure Limited (NASDAQ NVCR) opened at 19.65 on Wednesday. NovoCure Limited has a one year low of $5.95 and a one year high of $22.30. The company has a 50 day moving average of $20.25 and a 200-day moving average of $15.69. The firm’s market cap is $1.75 billion.
NovoCure Limited (NASDAQ:NVCR) last released its quarterly earnings data 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 firm had revenue of $38.38 million during the quarter, compared to analyst estimates of $42.20 million. NovoCure Limited had a negative net margin of 75.91% and a negative return on equity of 69.48%. On average, analysts expect that NovoCure Limited will post ($0.77) EPS for the current year.
About NovoCure Limited
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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