NovoCure Limited (NASDAQ:NVCR) Receives Consensus Rating of "Moderate Buy" from 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 received a consensus recommendation of "Moderate Buy" from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $28.7857.

Several analysts have issued reports on the stock. Piper Sandler reissued an "overweight" rating and set a $34.00 target price on shares of NovoCure in a research note on Friday, June 27th. Wells Fargo & Company reissued an "equal weight" rating and set a $14.50 target price (down from $40.00) on shares of NovoCure in a research note on Friday, July 25th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of NovoCure in a research note on Tuesday, July 8th. They set a "buy" rating and a $30.00 target price on the stock.

Insider Buying and Selling at NovoCure

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

Hedge Funds Weigh In On NovoCure

A number of hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of NovoCure by 17.1% in 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 during the last quarter. KLP Kapitalforvaltning AS increased its stake in shares of NovoCure by 6.5% in the second quarter. KLP Kapitalforvaltning AS now owns 23,000 shares of the medical equipment provider's stock worth $409,000 after acquiring an additional 1,400 shares during the last quarter. AdvisorNet Financial Inc increased its stake in shares of NovoCure by 16.7% in the first quarter. AdvisorNet Financial Inc now owns 10,466 shares of the medical equipment provider's stock worth $187,000 after acquiring an additional 1,500 shares during the last quarter. Rhumbline Advisers increased its stake in shares of NovoCure by 1.2% in the second quarter. Rhumbline Advisers now owns 152,749 shares of the medical equipment provider's stock worth $2,719,000 after acquiring an additional 1,797 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of NovoCure by 2.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,490 shares of the medical equipment provider's stock worth $2,160,000 after acquiring an additional 1,978 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

NovoCure Price Performance

Shares of NASDAQ NVCR traded up $0.01 during trading on Friday, hitting $12.69. The company had a trading volume of 1,417,087 shares, compared to its average volume of 1,340,399. The company has a market cap of $1.42 billion, a P/E ratio of -8.13 and a beta of 0.58. NovoCure has a 52 week low of $10.87 and a 52 week high of $34.13. The business's 50-day moving average is $12.91 and its 200 day moving average is $16.13. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 1.45.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced its 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 net margin of 27.13% and a negative return on equity of 47.74%. The company had revenue of $158.80 million for the quarter, compared to the consensus estimate of $153.87 million. During the same period in the previous year, the business earned ($0.31) EPS. The company's revenue was up 5.6% on a year-over-year basis. Equities research analysts predict 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.