Brokerages Set NovoCure Limited (NASDAQ:NVCR) Target Price at $32.67

NovoCure Limited (NASDAQ:NVCR) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $32.67.

NVCR has been the subject of several research analyst reports. Piper Sandler upped their target price on shares of NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, December 13th. HC Wainwright reaffirmed a “buy” rating and set a $38.00 price objective on shares of NovoCure in a report on Tuesday, January 14th. Evercore ISI raised NovoCure from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $18.00 to $30.00 in a report on Monday, December 2nd. Finally, Wedbush restated a “neutral” rating and set a $29.00 price target on shares of NovoCure in a research note on Monday, January 13th.

NovoCure Stock Down 3.9 %

Shares of NASDAQ NVCR opened at $24.52 on Thursday. NovoCure has a 1 year low of $11.70 and a 1 year high of $34.13. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -17.51 and a beta of 0.64. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. The business has a 50-day moving average of $27.81 and a two-hundred day moving average of $21.11.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The firm had revenue of $155.10 million during the quarter, compared to the consensus estimate of $143.95 million. During the same period in the prior year, the company posted ($0.46) earnings per share. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. On average, analysts forecast that NovoCure will post -1.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NovoCure

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. lifted its position in NovoCure by 70.7% during the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock worth $56,000 after acquiring an additional 781 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of NovoCure during the second quarter worth approximately $34,000. Brooklyn Investment Group purchased a new stake in shares of NovoCure during the third quarter worth approximately $45,000. Versant Capital Management Inc lifted its holdings in shares of NovoCure by 35.8% during the fourth quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock worth $100,000 after purchasing an additional 880 shares during the period. Finally, Venturi Wealth Management LLC grew its position in NovoCure by 58.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock valued at $57,000 after buying an additional 1,354 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

NovoCure Company Profile

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company’s TTFields devices include Optune Gio and Optune Lua.