NovoCure Ltd. (NASDAQ:NVCR) Receives $20.33 Consensus PT from Brokerages
Shares of NovoCure Ltd. (NASDAQ:NVCR) have been given a consensus recommendation of “Hold” by the seven brokerages that are presently covering the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $20.33.
Several equities research analysts have recently weighed in on NVCR shares. Wedbush reissued an “outperform” rating and set a $30.00 target price on shares of NovoCure in a research report on Wednesday, July 6th. Barclays PLC cut their target price on NovoCure from $12.00 to $9.00 and set an “underweight” rating on the stock in a research report on Friday, July 29th. Deutsche Bank AG cut their target price on NovoCure from $28.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, July 29th. JMP Securities dropped their price target on NovoCure from $43.00 to $34.00 and set a “market outperform” rating on the stock in a research note on Friday, July 29th. Finally, JPMorgan Chase & Co. dropped their price target on NovoCure from $29.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, July 29th.
In other NovoCure news, Director Gert L. Perlhagen sold 676,576 shares of NovoCure stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $1.85, for a total value of $1,251,665.60. Following the transaction, the director now directly owns 676,576 shares in the company, valued at approximately $1,251,665.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 33.90% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in shares of NovoCure by 5.1% in the first quarter. Geode Capital Management LLC now owns 40,771 shares of the company’s stock valued at $590,000 after buying an additional 1,988 shares during the period. BlackRock Group LTD acquired a new stake in NovoCure during the second quarter worth $137,000. BlackRock Advisors LLC increased its stake in NovoCure by 581.9% in the second quarter. BlackRock Advisors LLC now owns 16,584 shares of the company’s stock worth $194,000 after buying an additional 14,152 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in NovoCure by 28.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 67,811 shares of the company’s stock worth $982,000 after buying an additional 14,827 shares during the period. Finally, Regentatlantic Capital LLC acquired a new stake in NovoCure during the second quarter worth $225,000. Institutional investors own 22.67% of the company’s stock.
NovoCure (NASDAQ:NVCR) opened at 8.54 on Wednesday. The stock’s 50 day moving average price is $8.25 and its 200 day moving average price is $11.00. NovoCure has a 52 week low of $7.30 and a 52 week high of $30.89. The firm’s market capitalization is $732.51 million.
NovoCure (NASDAQ:NVCR) last issued its earnings results on Thursday, July 28th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.37) by $0.11. NovoCure had a negative return on equity of 69.31% and a negative net margin of 258.09%. The business had revenue of $17.90 million for the quarter, compared to analyst estimates of $15.90 million. On average, equities analysts expect that NovoCure will post ($1.74) EPS for the current year.
NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a therapy called TTFields for the treatment of solid tumor cancers. TTFields is a low-toxicity anti-mitotic treatment that uses low-intensity, intermediate frequency, alternating electric fields to exert physical forces on molecules inside cancer cells, disrupting the basic machinery for normal cell division, leading to cancer cell death.
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