NovoCure Limited (NASDAQ:NVCR) Given Average Rating of "Hold" by Brokerages

Key Points

• NovoCure currently has an average analyst rating of "Hold" from eight research firms, with four buys, three holds, and one sell. The average 12-month target price across updated broker coverage is about $27.29.
• The company reported mixed quarterly results, missing EPS expectations at -$0.62 versus the expected -$0.51, but topping revenue estimates with $174.06 million in sales, up 12.3% year over year.
• Recent insider activity showed stock sales by both an executive and the CEO, while institutional ownership remains high at 84.61%. NovoCure’s shares last traded at $17.01, below the average analyst target but above the 50-day and 200-day moving averages.

Shares of NovoCure Limited (NASDAQ:NVCR - Get Free Report) have been given an average rating of "Hold" by the eight research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $27.2857.

A number of equities analysts have recently commented on NVCR shares. Weiss Ratings reiterated a "sell (e+)" rating on shares of NovoCure in a report on Tuesday, April 21st. Evercore reiterated an "outperform" rating on shares of NovoCure in a report on Friday, May 1st. HC Wainwright lifted their target price on NovoCure from $47.00 to $49.00 and gave the stock a "buy" rating in a report on Thursday, February 26th. Wells Fargo & Company lifted their target price on NovoCure from $13.50 to $17.00 and gave the stock an "equal weight" rating in a report on Monday, May 4th. Finally, Wedbush reiterated a "neutral" rating and issued a $18.00 target price on shares of NovoCure in a report on Thursday, April 16th.

Insider Transactions at NovoCure

In related news, insider Uri Weinberg sold 6,412 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $13.31, for a total transaction of $85,343.72. Following the completion of the sale, the insider directly owned 267,190 shares of the company's stock, valued at approximately $3,556,298.90. This trade represents a 2.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frank X. Leonard sold 5,607 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $13.31, for a total value of $74,629.17. Following the sale, the chief executive officer directly owned 493,793 shares of the company's stock, valued at $6,572,384.83. This represents a 1.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 140,041 shares of company stock worth $1,860,116. 5.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NovoCure

A number of institutional investors and hedge funds have recently modified their holdings of NVCR. Morgan Stanley lifted its stake in shares of NovoCure by 453.4% during the 4th quarter. Morgan Stanley now owns 5,069,895 shares of the medical equipment provider's stock worth $65,554,000 after acquiring an additional 4,153,741 shares during the last quarter. Soleus Capital Management L.P. lifted its stake in shares of NovoCure by 25.0% during the 2nd quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider's stock worth $122,897,000 after acquiring an additional 1,382,888 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of NovoCure by 1,093.2% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,223,755 shares of the medical equipment provider's stock worth $15,823,000 after acquiring an additional 1,121,192 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of NovoCure by 346.7% during the 1st quarter. SG Americas Securities LLC now owns 1,245,541 shares of the medical equipment provider's stock worth $13,576,000 after acquiring an additional 966,735 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of NovoCure during the 4th quarter worth approximately $11,991,000. 84.61% of the stock is owned by institutional investors.

NovoCure Price Performance

Shares of NovoCure stock opened at $17.01 on Wednesday. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -11.12 and a beta of 0.90. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.70 and a current ratio of 2.90. The stock has a 50 day moving average price of $13.06 and a 200-day moving average price of $12.72. NovoCure has a one year low of $9.82 and a one year high of $20.06.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced its earnings results on Thursday, April 30th. The medical equipment provider reported ($0.62) EPS for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.11). The company had revenue of $174.06 million during the quarter, compared to analysts' expectations of $167.77 million. NovoCure had a negative return on equity of 50.82% and a negative net margin of 25.66%.NovoCure's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.31) EPS. Equities analysts expect that NovoCure will post -1.55 EPS for the current 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.

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