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

NovoCure Limited (NASDAQ:NVCR) has been given a consensus rating of “Hold” by the six ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $24.80.

A number of equities analysts recently issued reports on NVCR shares. Evercore reaffirmed an “outperform” rating on shares of NovoCure in a report on Friday, May 1st. Wedbush restated a “neutral” rating and issued a $18.00 target price on shares of NovoCure in a report on Thursday, April 16th. Wells Fargo & Company increased their target price on shares of NovoCure from $13.50 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. HC Wainwright restated a “buy” rating and issued a $46.00 price objective (down from $48.00) on shares of NovoCure in a research note on Thursday, June 18th. Finally, Weiss Ratings raised NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st.

Insider Transactions at NovoCure

In related news, Director W Anthony Vernon sold 2,945 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total value of $46,442.65. Following the completion of the sale, the director directly owned 197,657 shares of the company’s stock, valued at $3,117,050.89. This represents a 1.47% decrease in their position. The sale was disclosed in a document filed 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 that occurred on Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total value of $46,442.65. Following the transaction, the director directly owned 14,288 shares in the company, valued at approximately $225,321.76. This trade represents a 17.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 51,943 shares of company stock worth $893,171. Insiders own 5.52% of the company’s stock.

Hedge Funds Weigh In On NovoCure

Hedge funds have recently modified their holdings of the business. Empowered Funds LLC purchased a new stake in NovoCure in the 4th quarter valued at $33,000. Kestra Advisory Services LLC purchased a new position in NovoCure during the 4th quarter worth $49,000. Larson Financial Group LLC increased its stake in NovoCure by 662.1% in the third quarter. Larson Financial Group LLC now owns 4,100 shares of the medical equipment provider’s stock valued at $53,000 after purchasing an additional 3,562 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in NovoCure by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,442 shares of the medical equipment provider’s stock valued at $70,000 after purchasing an additional 1,120 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in shares of NovoCure in the first quarter valued at about $87,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

NovoCure Stock Performance

Shares of NVCR stock opened at $17.37 on Thursday. The company has a current ratio of 2.90, a quick ratio of 2.70 and a debt-to-equity ratio of 0.71. The firm has a fifty day moving average price of $16.59 and a 200 day moving average price of $13.86. The company has a market cap of $2.01 billion, a P/E ratio of -11.35 and a beta of 0.94. NovoCure has a 12 month low of $9.82 and a 12 month high of $18.92.

NovoCure (NASDAQ:NVCR) last posted its earnings results on Thursday, April 30th. The medical equipment provider reported ($0.62) EPS for the quarter, missing the consensus estimate 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 business had revenue of $174.06 million during the quarter, compared to analysts’ expectations of $167.77 million. During the same period last year, the company earned ($0.31) EPS. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. Sell-side analysts predict that NovoCure will post -1.55 earnings per share for the current fiscal year.

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.