NovoCure Limited (NASDAQ:NVCR) Receives $32.83 Consensus Price Target from Brokerages

Shares of NovoCure Limited (NASDAQ:NVCR - Get Free Report) have received an average recommendation of "Moderate Buy" from the six ratings firms that are currently covering the company, 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 target price among brokers that have issued ratings on the stock in the last year is $32.83.

NVCR has been the subject of several recent research reports. Wedbush cut their target price on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Wall Street Zen downgraded NovoCure from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Piper Sandler decreased their target price on NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. cut their target price on NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th.

NovoCure Price Performance

Shares of NVCR traded down $0.27 during midday trading on Wednesday, reaching $16.45. The stock had a trading volume of 1,230,363 shares, compared to its average volume of 1,158,371. 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 company has a market capitalization of $1.83 billion, a P/E ratio of -11.75 and a beta of 0.73. The firm's 50 day moving average price is $17.40 and its 200-day moving average price is $21.87. NovoCure has a 52 week low of $14.17 and a 52 week high of $34.13.

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

Large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. purchased a new position in shares of NovoCure during the fourth quarter valued at $272,000. Ameriprise Financial Inc. boosted its position in NovoCure by 77.7% during the 4th quarter. Ameriprise Financial Inc. now owns 22,883 shares of the medical equipment provider's stock worth $682,000 after acquiring an additional 10,007 shares during the period. LPL Financial LLC purchased a new position in NovoCure during the 4th quarter valued at about $830,000. Los Angeles Capital Management LLC increased its holdings in shares of NovoCure by 362.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 70,601 shares of the medical equipment provider's stock valued at $2,104,000 after purchasing an additional 55,334 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of NovoCure in the 4th quarter valued at about $899,000. 84.61% of the stock is owned by institutional investors and hedge funds.

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.