NovoCure Limited (NASDAQ:NVCR) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

NovoCure Limited (NASDAQ:NVCR - Get Free Report) has received an average rating of "Moderate Buy" from the six ratings firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $32.83.

A number of equities research analysts recently commented on the company. Wedbush lowered their price target on NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Piper Sandler lowered their price target on NovoCure from $42.00 to $34.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen lowered shares of NovoCure from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its stake in NovoCure by 3.8% in the first quarter. Rhumbline Advisers now owns 150,952 shares of the medical equipment provider's stock valued at $2,690,000 after purchasing an additional 5,483 shares during the last quarter. Strs Ohio purchased a new stake in NovoCure in the first quarter worth $759,000. Acadian Asset Management LLC purchased a new stake in NovoCure in the first quarter worth $87,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in NovoCure by 154.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,782,159 shares of the medical equipment provider's stock worth $31,758,000 after buying an additional 1,080,514 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in NovoCure by 5.5% in the first quarter. Goldman Sachs Group Inc. now owns 993,670 shares of the medical equipment provider's stock worth $17,707,000 after buying an additional 52,180 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

NovoCure Stock Up 3.3%

NVCR stock traded up $0.55 during mid-day trading on Wednesday, reaching $17.00. 2,844,994 shares of the company traded hands, compared to its average volume of 1,167,215. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. The firm's 50 day moving average price is $17.36 and its 200 day moving average price is $21.88. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -12.14 and a beta of 0.73. NovoCure has a fifty-two week low of $14.17 and a fifty-two week high of $34.13.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced its earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.16. The company had revenue of $154.99 million for the quarter, compared to analysts' expectations of $147.57 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. NovoCure's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.36) earnings per share. As a group, equities research analysts predict that NovoCure will post -1.3 EPS 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.