NovoCure Limited (NASDAQ:NVCR) has received an average rating of “Hold” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $16.71.
Several research analysts recently weighed in on NVCR shares. J P Morgan Chase & Co restated a “buy” rating and set a $14.00 price target on shares of NovoCure Limited in a report on Monday, May 1st. Zacks Investment Research raised shares of NovoCure Limited from a “hold” rating to a “buy” rating and set a $8.25 price objective on the stock in a research report on Thursday, March 9th. Aegis reaffirmed a “buy” rating and issued a $14.00 price objective on shares of NovoCure Limited in a research report on Tuesday, April 18th. Wedbush reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of NovoCure Limited in a research report on Friday, April 7th. Finally, JMP Securities reaffirmed an “outperform” rating and issued a $34.00 price objective on shares of NovoCure Limited in a research report on Tuesday, April 4th.
Shares of NovoCure Limited (NVCR) opened at 17.10 on Monday. The stock has a 50 day moving average of $13.03 and a 200-day moving average of $9.44. NovoCure Limited has a one year low of $5.95 and a one year high of $17.90. The company’s market capitalization is $1.51 billion.
NovoCure Limited (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, April 27th. The medical equipment provider reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.04. NovoCure Limited had a negative net margin of 109.30% and a negative return on equity of 74.31%. The business had revenue of $34.88 million for the quarter, compared to analysts’ expectations of $39.46 million. On average, equities analysts forecast that NovoCure Limited will post ($0.80) earnings per share for the current fiscal year.
In other news, insider Eilon D. Kirson sold 20,956 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $15.03, for a total value of $314,968.68. Following the sale, the insider now owns 319,083 shares of the company’s stock, valued at $4,795,817.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Yoram Palti sold 3,825 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $13.82, for a total transaction of $52,861.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 704,022 shares of company stock worth $10,264,424. Insiders own 16.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in NovoCure Limited by 61.7% in the first quarter. Bank of America Corp DE now owns 37,531 shares of the medical equipment provider’s stock valued at $305,000 after buying an additional 14,321 shares during the period. Geode Capital Management LLC raised its stake in NovoCure Limited by 14.6% in the first quarter. Geode Capital Management LLC now owns 128,632 shares of the medical equipment provider’s stock valued at $1,041,000 after buying an additional 16,411 shares during the period. Vanguard Group Inc. raised its stake in NovoCure Limited by 12.0% in the first quarter. Vanguard Group Inc. now owns 3,047,940 shares of the medical equipment provider’s stock valued at $24,688,000 after buying an additional 325,512 shares during the period. Teachers Advisors LLC raised its stake in NovoCure Limited by 3.3% in the first quarter. Teachers Advisors LLC now owns 98,799 shares of the medical equipment provider’s stock valued at $800,000 after buying an additional 3,125 shares during the period. Finally, River & Mercantile Asset Management LLP acquired a new stake in NovoCure Limited during the first quarter valued at about $937,000. 24.19% of the stock is currently owned by institutional investors.
NovoCure Limited Company Profile
NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.
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