NovoCure Limited (NASDAQ:NVCR) Given Average Rating of "Moderate Buy" by 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 covering the stock, Marketbeat reports. Two research 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 analysts that have covered the stock in the last year is $32.83.

Several research analysts have weighed in on the stock. 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 report on Thursday, April 10th. Piper Sandler reissued an "overweight" rating and set a $34.00 price objective on shares of NovoCure in a report on Friday, June 27th. Wall Street Zen lowered NovoCure from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Finally, Wedbush cut their target price on NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th.

NovoCure Trading Up 0.8%

Shares of NovoCure stock traded up $0.14 during midday trading on Friday, reaching $18.02. The company had a trading volume of 613,821 shares, compared to its average volume of 1,133,947. NovoCure has a fifty-two week low of $14.17 and a fifty-two week high of $34.13. The stock has a fifty day moving average price of $17.73 and a 200 day moving average price of $20.99. The firm has a market cap of $2.01 billion, a PE ratio of -11.94 and a beta of 0.72. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.47 and a quick ratio of 1.41.

NovoCure (NASDAQ:NVCR - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.16. NovoCure had a negative net margin of 26.41% and a negative return on equity of 45.46%. The firm had revenue of $154.99 million during the quarter, compared to the consensus estimate of $147.57 million. During the same period in the previous year, the firm posted ($0.36) earnings per share. The business's revenue was up 11.9% compared to the same quarter last year. On average, equities analysts anticipate that NovoCure will post -1.3 earnings per share for the current year.

Hedge Funds Weigh In On NovoCure

Several institutional investors have recently bought and sold shares of the company. Soleus Capital Management L.P. purchased a new position in shares of NovoCure during the 4th quarter valued at $81,643,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in NovoCure by 154.0% in the 1st 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 valued at $31,758,000 after buying an additional 1,080,514 shares in the last quarter. Capital International Investors raised its holdings in NovoCure by 12.0% during the 4th quarter. Capital International Investors now owns 8,873,902 shares of the medical equipment provider's stock valued at $264,442,000 after acquiring an additional 951,141 shares during the period. Nuveen LLC purchased a new stake in shares of NovoCure during the first quarter worth $12,363,000. Finally, Granite Investment Partners LLC bought a new position in shares of NovoCure in the fourth quarter worth $20,464,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

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.