NovoCure Limited (NASDAQ:NVCR) Given Average Rating of "Moderate Buy" by Analysts

NovoCure Limited (NASDAQ:NVCR - Get Free Report) has earned an average recommendation of "Moderate Buy" from the six research firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $32.83.

Several research analysts have recently commented on the company. HC Wainwright reissued a "buy" rating and set a $38.00 price objective on shares of NovoCure in a report on Tuesday, January 14th. JPMorgan Chase & Co. lowered their price objective on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Piper Sandler cut their target price on shares of NovoCure from $42.00 to $34.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. StockNews.com downgraded NovoCure from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Finally, Wedbush dropped their price target on NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Soleus Capital Management L.P. purchased a new stake in NovoCure during the 4th quarter valued at about $81,643,000. Capital International Investors boosted its stake in shares of NovoCure by 12.0% during the fourth quarter. Capital International Investors now owns 8,873,902 shares of the medical equipment provider's stock valued at $264,442,000 after purchasing an additional 951,141 shares during the period. Granite Investment Partners LLC purchased a new stake in shares of NovoCure during the fourth quarter valued at approximately $20,464,000. Emerald Advisers LLC bought a new position in shares of NovoCure in the fourth quarter worth approximately $16,317,000. Finally, Capital World Investors increased its stake in shares of NovoCure by 11.8% in the fourth quarter. Capital World Investors now owns 4,815,529 shares of the medical equipment provider's stock worth $143,503,000 after buying an additional 507,311 shares during the period. 84.61% of the stock is owned by institutional investors.

NovoCure Stock Down 0.3 %

Shares of NASDAQ NVCR opened at $17.38 on Friday. The business has a 50-day simple moving average of $17.92 and a two-hundred day simple moving average of $21.72. NovoCure has a 52 week low of $14.17 and a 52 week high of $34.13. The company has a market cap of $1.94 billion, a P/E ratio of -12.41 and a beta of 0.73. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27.

NovoCure (NASDAQ:NVCR - Get Free Report) last posted its earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.16. The business had revenue of $154.99 million for the quarter, compared to analysts' expectations of $147.57 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.36) EPS. Research analysts anticipate that NovoCure will post -1.3 earnings per share for the current fiscal year.

About NovoCure

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.

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