Brokerages Set NovoCure Limited (NASDAQ:NVCR) Price Target at $32.67

NovoCure Limited (NASDAQ:NVCR) has been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $32.67.

NVCR has been the subject of a number of recent research reports. Evercore ISI raised NovoCure from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $18.00 to $30.00 in a research report on Monday, December 2nd. Wedbush reaffirmed a “neutral” rating and issued a $29.00 target price (up previously from $24.00) on shares of NovoCure in a research report on Monday, December 2nd. Piper Sandler lifted their price target on shares of NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, HC Wainwright restated a “buy” rating and set a $38.00 price objective (up from $30.00) on shares of NovoCure in a research note on Monday, December 2nd.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NVCR. Versant Capital Management Inc grew its holdings in NovoCure by 35.8% during the fourth quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock worth $100,000 after purchasing an additional 880 shares during the period. Franklin Resources Inc. boosted its stake in shares of NovoCure by 222.6% during the 3rd quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider’s stock worth $2,904,000 after acquiring an additional 124,793 shares during the period. Tidal Investments LLC increased its holdings in shares of NovoCure by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 55,756 shares of the medical equipment provider’s stock worth $871,000 after acquiring an additional 2,465 shares during the last quarter. Geode Capital Management LLC raised its stake in NovoCure by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider’s stock valued at $37,601,000 after acquiring an additional 29,871 shares during the period. Finally, Weiss Asset Management LP acquired a new stake in NovoCure during the 3rd quarter valued at $735,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

NovoCure Trading Down 0.3 %

Shares of NASDAQ:NVCR opened at $28.91 on Friday. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of -20.65 and a beta of 0.64. NovoCure has a 12 month low of $11.70 and a 12 month high of $34.13. The company’s fifty day simple moving average is $24.88 and its 200 day simple moving average is $20.13. 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 quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.06. The firm had revenue of $155.10 million for the quarter, compared to the consensus estimate of $143.95 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.46) EPS. As a group, research analysts forecast that NovoCure will post -1.32 EPS for the current fiscal year.

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.