Emerald Advisers LLC Makes New Investment in NovoCure Limited (NASDAQ:NVCR)

Emerald Advisers LLC bought a new position in NovoCure Limited (NASDAQ:NVCR) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 547,557 shares of the medical equipment provider’s stock, valued at approximately $16,317,000. Emerald Advisers LLC owned 0.51% of NovoCure at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. LPL Financial LLC acquired a new stake in NovoCure in the fourth quarter worth approximately $830,000. KLP Kapitalforvaltning AS bought a new position in shares of NovoCure in the fourth quarter valued at $644,000. Teacher Retirement System of Texas bought a new position in shares of NovoCure in the fourth quarter valued at $1,766,000. Xponance Inc. bought a new position in shares of NovoCure in the fourth quarter valued at $231,000. Finally, Cibc World Markets Corp bought a new position in shares of NovoCure in the fourth quarter valued at $297,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on NVCR. Piper Sandler upped their price target on NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Wedbush reaffirmed a “neutral” rating and issued a $29.00 price target on shares of NovoCure in a report on Monday, January 13th. Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $18.00 to $30.00 in a research note on Monday, December 2nd. StockNews.com raised shares of NovoCure from a “sell” rating to a “hold” rating in a research note on Tuesday, March 18th. Finally, HC Wainwright reissued a “buy” rating and set a $38.00 target price on shares of NovoCure in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NovoCure currently has an average rating of “Moderate Buy” and a consensus price target of $35.80.

NovoCure Stock Up 0.8 %

NVCR stock opened at $19.33 on Friday. NovoCure Limited has a twelve month low of $11.70 and a twelve month high of $34.13. The company has a market cap of $2.12 billion, a PE ratio of -13.81 and a beta of 0.63. The business’s 50-day simple moving average is $22.47 and its 200 day simple moving average is $21.58. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.27). NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The firm had revenue of $161.27 million for the quarter, compared to analyst estimates of $161.30 million. On average, research analysts anticipate that NovoCure Limited will post -1.3 earnings per share for the current 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.