NovoCure Limited (NASDAQ:NVCR) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• NovoCure Limited (NASDAQ: NVCR) currently has a consensus rating of "Moderate Buy", with four analysts recommending a buy and three suggesting a hold.
• The company's recent earnings report showed a 5.6% increase in revenue year-over-year, with an EPS of ($0.36), surpassing analysts’ expectations.
• Insider transactions indicate confidence in the company, as CFO Christoph Brackmann acquired 20,000 shares, increasing their position by 16.51%.

Shares of NovoCure Limited (NASDAQ:NVCR - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seven analysts that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $28.7857.

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

NovoCure Price Performance

Shares of NASDAQ NVCR opened at $11.73 on Monday. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -7.52 and a beta of 0.61. NovoCure has a 52 week low of $10.87 and a 52 week high of $34.13. The company's 50-day moving average price is $15.31 and its 200 day moving average price is $17.62. The company has a current ratio of 1.45, a quick ratio of 1.39 and a debt-to-equity ratio of 0.28.

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

Insider Buying and Selling

In other NovoCure news, CFO Christoph Brackmann purchased 20,000 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were purchased at an average price of $11.59 per share, for a total transaction of $231,800.00. Following the completion of the acquisition, the chief financial officer owned 141,150 shares of the company's stock, valued at approximately $1,635,928.50. This represents a 16.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.52% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC purchased a new stake in shares of NovoCure during the second quarter valued at approximately $88,000. Tower Research Capital LLC TRC raised its stake in shares of NovoCure by 542.7% during the second quarter. Tower Research Capital LLC TRC now owns 14,821 shares of the medical equipment provider's stock valued at $264,000 after purchasing an additional 12,515 shares during the period. Corient Private Wealth LLC raised its stake in shares of NovoCure by 55.2% during the second quarter. Corient Private Wealth LLC now owns 18,536 shares of the medical equipment provider's stock valued at $330,000 after purchasing an additional 6,592 shares during the period. State of Tennessee Department of Treasury purchased a new stake in shares of NovoCure during the second quarter valued at approximately $129,000. Finally, Soleus Capital Management L.P. raised its stake in shares of NovoCure by 25.0% during the second quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider's stock valued at $122,897,000 after purchasing an additional 1,382,888 shares during the period. Hedge funds and other 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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