NovoCure Limited (NASDAQ:NVCR) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• NovoCure Limited has received a consensus rating of "Moderate Buy" from analysts, with four buy recommendations and three holds, while the average 12-month target price is $28.79.
• The company reported a quarterly loss of ($0.36) EPS, surpassing expectations, and generated revenue of $158.80 million, a 5.6% increase from the same period last year.
• CEO Ashley Cordova recently purchased 81,550 shares at an average price of $12.22, increasing her ownership in the company by 22.91%.

NovoCure Limited (NASDAQ:NVCR - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seven analysts that are presently covering the company, MarketBeat Ratings reports. Three 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 brokers that have issued a report on the stock in the last year is $28.7857.

NVCR has been the subject of several recent analyst reports. Wells Fargo & Company reissued an "equal weight" rating and issued a $14.50 price target (down previously from $40.00) on shares of NovoCure in a research note on Friday, July 25th. Piper Sandler reissued an "overweight" rating and set a $34.00 price target on shares of NovoCure in a research report on Friday, June 27th. Finally, LADENBURG THALM/SH SH began coverage on NovoCure in a research note on Tuesday, July 8th. They issued a "buy" rating and a $30.00 price objective on the stock.

NovoCure Price Performance

Shares of NVCR opened at $12.73 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.39 and a debt-to-equity ratio of 0.28. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -8.16 and a beta of 0.58. NovoCure has a 52 week low of $10.87 and a 52 week high of $34.13. The stock has a 50 day moving average of $13.31 and a 200-day moving average of $16.34.

NovoCure (NASDAQ:NVCR - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The medical equipment provider reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.03. NovoCure had a negative return on equity of 47.74% and a negative net margin of 27.13%.The business had revenue of $158.80 million for the quarter, compared to analyst estimates of $153.87 million. During the same period in the prior year, the company posted ($0.31) EPS. The business's revenue was up 5.6% compared to the same quarter last year. As a group, analysts forecast that NovoCure will post -1.3 EPS for the current year.

Insider Activity at NovoCure

In other news, CEO Ashley Cordova acquired 81,550 shares of the firm's stock in a transaction dated Friday, September 5th. The shares were bought at an average price of $12.22 per share, with a total value of $996,541.00. Following the acquisition, the chief executive officer owned 437,569 shares of the company's stock, valued at $5,347,093.18. This trade represents a 22.91% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christoph Brackmann acquired 20,000 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were purchased at an average cost of $11.59 per share, for a total transaction of $231,800.00. Following the acquisition, the chief financial officer directly owned 141,150 shares in the company, valued at $1,635,928.50. This represents a 16.51% increase in their position. The disclosure for this purchase can be found here. 5.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NovoCure

Several institutional investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. acquired a new stake in shares of NovoCure in the 4th quarter valued at $68,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in NovoCure by 17.1% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,307 shares of the medical equipment provider's stock worth $77,000 after acquiring an additional 629 shares in the last quarter. Acadian Asset Management LLC bought a new stake in NovoCure during the first quarter worth about $87,000. Headlands Technologies LLC acquired a new position in NovoCure during the second quarter worth approximately $88,000. Finally, Russell Investments Group Ltd. increased its stake in shares of NovoCure by 463.8% during the first quarter. Russell Investments Group Ltd. now owns 6,529 shares of the medical equipment provider's stock worth $116,000 after purchasing an additional 5,371 shares during the period. Institutional investors own 84.61% of the company's stock.

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.

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