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

NovoCure Limited (NASDAQ:NVCR) has been given an average rating of “Moderate Buy” by the six ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $26.17.

NVCR has been the subject of a number of research reports. Wedbush reiterated an “outperform” rating and issued a $24.00 price objective on shares of NovoCure in a report on Thursday, July 25th. Wells Fargo & Company decreased their price target on NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of NovoCure in a research report on Thursday, October 31st. Finally, Evercore ISI reduced their target price on NovoCure from $21.00 to $18.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Ridgewood Investments LLC acquired a new position in NovoCure in the 2nd quarter valued at about $28,000. Signaturefd LLC increased its stake in NovoCure by 61.7% during the 2nd quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 627 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in NovoCure in the second quarter worth about $34,000. Fifth Third Bancorp acquired a new stake in shares of NovoCure during the 2nd quarter worth approximately $43,000. Finally, Brooklyn Investment Group acquired a new position in shares of NovoCure during the third quarter valued at $45,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

NovoCure Trading Down 2.8 %

NASDAQ NVCR opened at $16.11 on Friday. The business has a 50 day simple moving average of $16.57 and a 200 day simple moving average of $18.21. NovoCure has a one year low of $11.29 and a one year high of $24.74. 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 stock has a market capitalization of $1.74 billion, a P/E ratio of -11.51 and a beta of 0.71.

NovoCure (NASDAQ:NVCR) last released its earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. The firm had revenue of $155.10 million during the quarter, compared to the consensus estimate of $143.95 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The company’s revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.46) EPS. Research analysts expect that NovoCure will post -1.31 earnings per share for the current year.

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.