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

NovoCure Limited (NASDAQ:NVCR) has been given a consensus recommendation of “Hold” by the eight analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $27.2857.

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of NovoCure from $13.50 to $17.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Wedbush reiterated a “neutral” rating and set a $18.00 price target on shares of NovoCure in a research note on Thursday, April 16th. HC Wainwright lifted their price target on shares of NovoCure from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Evercore reiterated an “outperform” rating on shares of NovoCure in a research note on Friday, May 1st. Finally, Weiss Ratings upgraded shares of NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st.

Insider Activity

In related news, Director Allyson J. Ocean sold 2,945 shares of NovoCure stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total transaction of $46,442.65. Following the sale, the director directly owned 11,324 shares in the company, valued at $178,579.48. This trade represents a 20.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Timothy J. Scannell sold 2,945 shares of NovoCure stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total transaction of $46,442.65. Following the sale, the director owned 14,288 shares in the company, valued at $225,321.76. This represents a 17.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 51,943 shares of company stock worth $893,171 over the last three months. Company insiders own 5.52% of the company’s stock.

Institutional Investors Weigh In On NovoCure

Several hedge funds and other institutional investors have recently bought and sold shares of NVCR. Empowered Funds LLC acquired a new stake in NovoCure during the 4th quarter worth $33,000. Kestra Advisory Services LLC purchased a new position in NovoCure during the 4th quarter worth $49,000. Larson Financial Group LLC grew its position in 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. Mirae Asset Global Investments Co. Ltd. grew its position in 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 during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in NovoCure during the 1st quarter worth $87,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

NovoCure Price Performance

Shares of NVCR opened at $17.78 on Friday. NovoCure has a twelve month low of $9.82 and a twelve month high of $18.92. The firm’s fifty day simple moving average is $15.03 and its 200-day simple moving average is $13.42. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -11.62 and a beta of 0.93. The company has a current ratio of 2.90, a quick ratio of 2.70 and a debt-to-equity ratio of 0.71.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). NovoCure had a negative net margin of 25.66% and a negative return on equity of 50.82%. The firm had revenue of $174.06 million during the quarter, compared to analyst estimates of $167.77 million. During the same quarter in the previous year, the business posted ($0.31) earnings per share. NovoCure’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities analysts forecast that NovoCure will post -1.55 EPS for the current fiscal 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.