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

Shares of NovoCure Limited (NASDAQ:NVCR - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the seven analysts 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 twelve-month price objective among brokerages that have issued a report on the stock in the last year is $28.79.

NVCR has been the subject of a number of analyst reports. Wells Fargo & Company reiterated an "equal weight" rating and set a $14.50 target price (down previously from $40.00) on shares of NovoCure in a research note on Friday. Wall Street Zen cut NovoCure from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Piper Sandler reaffirmed an "overweight" rating and set a $34.00 price objective on shares of NovoCure in a research report on Friday, June 27th. JPMorgan Chase & Co. lowered their price target on NovoCure from $29.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Finally, Wedbush lowered their price target on NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th.

Institutional Investors Weigh In On NovoCure

Large investors have recently modified their holdings of the company. GeoWealth Management LLC acquired a new stake in shares of NovoCure during the fourth quarter worth about $27,000. GF Fund Management CO. LTD. acquired a new stake in NovoCure during the 4th quarter worth approximately $68,000. Mirae Asset Global Investments Co. Ltd. lifted its position in NovoCure by 17.1% during the 2nd 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 period. Acadian Asset Management LLC acquired a new stake in NovoCure during the 1st quarter worth approximately $87,000. Finally, Russell Investments Group Ltd. lifted its holdings 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. 84.61% of the stock is owned by institutional investors and hedge funds.

NovoCure Stock Down 4.0%

Shares of NASDAQ:NVCR traded down $0.50 during trading on Thursday, hitting $12.04. The company's stock had a trading volume of 3,951,547 shares, compared to its average volume of 1,307,440. The business has a 50 day moving average price of $17.29 and a two-hundred day moving average price of $19.25. The company has a market capitalization of $1.34 billion, a PE ratio of -7.72 and a beta of 0.72. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.41 and a current ratio of 1.47. NovoCure has a fifty-two week low of $11.57 and a fifty-two week high of $34.13.

NovoCure (NASDAQ:NVCR - Get Free Report) last released 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 return on equity of 47.36% and a negative net margin of 27.13%. The firm had revenue of $158.80 million during the quarter, compared to analysts' expectations of $153.87 million. During the same period in the previous year, the firm posted ($0.31) EPS. NovoCure's revenue for the quarter was up 5.6% on a year-over-year basis. As a group, 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.