NovoCure Limited (NASDAQ:NVCR) Given Consensus Recommendation of “Hold” by Brokerages

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

A number of equities research analysts recently weighed in on NVCR shares. Weiss Ratings reissued a “sell (e+)” rating on shares of NovoCure in a research report on Thursday, January 22nd. Wedbush reissued a “neutral” rating and issued a $18.00 target price on shares of NovoCure in a report on Thursday, January 15th. Evercore set a $20.00 target price on NovoCure in a research report on Monday, January 5th. HC Wainwright dropped their price target on NovoCure from $42.00 to $39.00 and set a “buy” rating on the stock in a research note on Tuesday, January 13th. Finally, JPMorgan Chase & Co. cut their price target on NovoCure from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th.

NovoCure Trading Up 0.5%

Shares of NovoCure stock opened at $10.14 on Monday. The company has a current ratio of 1.55, a quick ratio of 1.50 and a debt-to-equity ratio of 0.57. The company has a fifty day simple moving average of $12.95 and a 200-day simple moving average of $12.64. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -6.30 and a beta of 0.73. NovoCure has a 12-month low of $9.82 and a 12-month high of $23.18.

Institutional Trading of NovoCure

Several institutional investors and hedge funds have recently bought and sold shares of NVCR. Mach 1 Financial Group LLC purchased a new position in NovoCure during the 4th quarter worth $189,000. Larson Financial Group LLC raised its holdings in shares of NovoCure by 25.2% in the fourth quarter. Larson Financial Group LLC now owns 5,133 shares of the medical equipment provider’s stock valued at $66,000 after buying an additional 1,033 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of NovoCure by 14.4% during the fourth quarter. Handelsbanken Fonder AB now owns 37,323 shares of the medical equipment provider’s stock worth $483,000 after buying an additional 4,700 shares during the period. ProShare Advisors LLC grew its holdings in shares of NovoCure by 10.0% during the fourth quarter. ProShare Advisors LLC now owns 23,493 shares of the medical equipment provider’s stock worth $304,000 after buying an additional 2,136 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in NovoCure by 16.1% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 24,217 shares of the medical equipment provider’s stock valued at $313,000 after acquiring an additional 3,350 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.