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

NovoCure Limited (NASDAQ:NVCR) has been assigned a consensus rating of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $26.9286.

Several equities research analysts have recently issued reports on NVCR shares. HC Wainwright increased their price objective on shares of NovoCure from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Wedbush reaffirmed a “neutral” rating and issued a $18.00 price objective on shares of NovoCure in a research report on Thursday, January 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NovoCure in a research note on Thursday, January 22nd. Finally, Evercore set a $20.00 target price on NovoCure in a report on Monday, January 5th.

NovoCure Price Performance

Shares of NVCR opened at $10.36 on Tuesday. The stock has a 50 day simple moving average of $12.16 and a 200 day simple moving average of $12.70. NovoCure has a 52-week low of $9.82 and a 52-week high of $20.06. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.71 and a current ratio of 2.90. The firm has a market capitalization of $1.18 billion, a PE ratio of -8.49 and a beta of 0.71.

NovoCure (NASDAQ:NVCR) last announced its earnings results on Thursday, February 26th. The medical equipment provider reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.19. NovoCure had a negative net margin of 20.79% and a negative return on equity of 39.11%. The firm had revenue of $174.35 million for the quarter, compared to the consensus estimate of $174.40 million. During the same period last year, the company posted ($0.61) EPS. The business’s quarterly revenue was up 8.2% on a year-over-year basis. Sell-side analysts predict that NovoCure will post -1.3 EPS for the current fiscal year.

Insider Buying and Selling at NovoCure

In other NovoCure news, Chairman William F. Doyle sold 71,887 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $12.98, for a total value of $933,093.26. Following the sale, the chairman owned 328,397 shares in the company, valued at approximately $4,262,593.06. The trade was a 17.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Mukund Paravasthu sold 43,246 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $13.77, for a total value of $595,497.42. Following the transaction, the chief operating officer directly owned 72,832 shares of the company’s stock, valued at approximately $1,002,896.64. This trade represents a 37.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 140,041 shares of company stock valued at $1,860,116 in the last 90 days. 5.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NovoCure

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC acquired a new stake in shares of NovoCure in the fourth quarter valued at about $33,000. SJS Investment Consulting Inc. bought a new position in NovoCure in the third quarter valued at approximately $41,000. Kestra Advisory Services LLC bought a new position in NovoCure in the fourth quarter valued at approximately $49,000. Larson Financial Group LLC increased its position 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 purchasing an additional 3,562 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake 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 purchasing an additional 1,120 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.