NovoCure Limited (NASDAQ:NVCR) Given Consensus Rating of “Hold” by Analysts

NovoCure Limited (NASDAQ:NVCR) has been assigned a consensus recommendation of “Hold” from the seven analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $25.50.

Several brokerages have weighed in on NVCR. JPMorgan Chase & Co. dropped their price objective on NovoCure from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of NovoCure in a research report on Wednesday, October 8th. HC Wainwright dropped their price target on shares of NovoCure from $42.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday. Evercore ISI set a $20.00 price objective on shares of NovoCure in a report on Monday, January 5th. Finally, Wedbush reaffirmed a “neutral” rating and set a $18.00 target price on shares of NovoCure in a report on Tuesday, September 30th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NVCR. Hennion & Walsh Asset Management Inc. increased its holdings in NovoCure by 31.2% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 54,245 shares of the medical equipment provider’s stock valued at $701,000 after purchasing an additional 12,915 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in NovoCure by 15.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 73,720 shares of the medical equipment provider’s stock worth $953,000 after buying an additional 9,621 shares during the last quarter. SG Americas Securities LLC grew its position in shares of NovoCure by 905.6% during the 4th quarter. SG Americas Securities LLC now owns 278,806 shares of the medical equipment provider’s stock worth $3,605,000 after buying an additional 251,082 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of NovoCure by 135.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 26,215 shares of the medical equipment provider’s stock valued at $375,000 after acquiring an additional 15,099 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of NovoCure by 104.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 282,184 shares of the medical equipment provider’s stock valued at $3,646,000 after acquiring an additional 144,024 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

NovoCure Stock Up 0.9%

NASDAQ:NVCR opened at $13.77 on Thursday. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -8.55 and a beta of 0.73. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.50 and a current ratio of 1.55. The stock’s fifty day moving average price is $12.66 and its two-hundred day moving average price is $13.22. NovoCure has a 52-week low of $10.70 and a 52-week high of $27.70.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, October 30th. The medical equipment provider reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. The company had revenue of $167.20 million during the quarter, compared to the consensus estimate of $158.81 million. NovoCure had a negative return on equity of 50.29% and a negative net margin of 27.66%.The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.28) earnings per share. On average, analysts anticipate that NovoCure will post -1.3 EPS for the current year.

NovoCure Company Profile

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.