Brokerages Set NovoCure Limited (NASDAQ:NVCR) PT at $32.43

NovoCure Limited (NASDAQ:NVCR - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seven ratings firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $28.79.

Several equities research analysts have issued reports on NVCR shares. LADENBURG THALM/SH SH started coverage on shares of NovoCure in a report on Tuesday, July 8th. They issued a "buy" rating and a $30.00 price target on the stock. 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 report on Friday. JPMorgan Chase & Co. lowered their price target 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. Wedbush lowered their target price on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Finally, Wall Street Zen lowered shares of NovoCure from a "hold" rating to a "sell" rating in a report on Friday, April 25th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NVCR. Soleus Capital Management L.P. acquired a new position in NovoCure during the 4th quarter valued at about $81,643,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of 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 acquiring an additional 1,080,514 shares during the period. Capital International Investors increased its stake 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 worth $264,442,000 after purchasing an additional 951,141 shares in the last quarter. Nuveen LLC bought a new stake in NovoCure during the 1st quarter worth approximately $12,363,000. Finally, Granite Investment Partners LLC bought a new stake in NovoCure during the 4th quarter worth approximately $20,464,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

NovoCure Trading Down 4.0%

Shares of NovoCure stock traded down $0.50 during trading on Thursday, hitting $12.04. The stock had a trading volume of 3,951,547 shares, compared to its average volume of 1,113,467. The stock has a 50 day simple moving average of $17.40 and a 200 day simple moving average of $19.43. The company has a market capitalization of $1.34 billion, a PE ratio of -7.97 and a beta of 0.72. The company has a quick ratio of 1.41, a current ratio of 1.47 and a debt-to-equity ratio of 0.27. NovoCure has a 1 year low of $11.57 and a 1 year high of $34.13.

NovoCure (NASDAQ:NVCR - Get Free Report) last posted its earnings results on Thursday, July 24th. The medical equipment provider reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.03. NovoCure had a negative net margin of 26.41% and a negative return on equity of 45.46%. The company had revenue of $158.80 million during the quarter, compared to the consensus estimate of $153.87 million. During the same period in the previous year, the firm posted ($0.31) earnings per share. The company's revenue for the quarter was up 5.6% compared to the same quarter last year. On average, research analysts expect that NovoCure will post -1.3 EPS 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.