BidaskClub upgraded shares of NovoCure Limited (NASDAQ:NVCR) from a buy rating to a strong-buy rating in a research note issued to investors on Monday, July 31st.

Several other research firms have also commented on NVCR. Zacks Investment Research upgraded NovoCure Limited from a sell rating to a buy rating and set a $19.00 price objective on the stock in a research report on Thursday, June 29th. J P Morgan Chase & Co restated a buy rating and issued a $14.00 price objective on shares of NovoCure Limited in a research report on Monday, May 1st. ValuEngine upgraded NovoCure Limited from a sell rating to a hold rating in a research report on Saturday, June 3rd. Wedbush reiterated an outperform rating and set a $20.00 target price on shares of NovoCure Limited in a research report on Friday, April 7th. Finally, Aegis reiterated a buy rating and set a $14.00 target price on shares of NovoCure Limited in a research report on Tuesday, April 18th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. NovoCure Limited presently has an average rating of Buy and an average target price of $19.29.

NovoCure Limited (NVCR) traded up 1.39% during midday trading on Monday, hitting $18.30. 716,569 shares of the stock traded hands. The firm’s 50-day moving average is $18.64 and its 200-day moving average is $12.20. The company’s market cap is $1.63 billion. NovoCure Limited has a 52-week low of $5.95 and a 52-week high of $21.75.

NovoCure Limited (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported ($0.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by $0.01. NovoCure Limited had a negative return on equity of 69.48% and a negative net margin of 75.91%. The business had revenue of $38.38 million during the quarter, compared to analyst estimates of $42.20 million. Analysts predict that NovoCure Limited will post ($0.75) EPS for the current year.

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In other NovoCure Limited news, major shareholder Pomona Capital Vii Fund Invest sold 1,072,532 shares of the firm’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $17.35, for a total value of $18,608,430.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Asaf Danziger sold 180,601 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $15.13, for a total value of $2,732,493.13. Following the completion of the sale, the chief executive officer now directly owns 1,163,296 shares of the company’s stock, valued at $17,600,668.48. The disclosure for this sale can be found here. Insiders sold a total of 2,273,522 shares of company stock worth $38,570,172 in the last 90 days. 16.70% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of NVCR. Bank of Montreal Can increased its stake in shares of NovoCure Limited by 1,919.7% in the second quarter. Bank of Montreal Can now owns 7,069 shares of the medical equipment provider’s stock worth $122,000 after buying an additional 6,719 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of NovoCure Limited by 792.5% in the second quarter. BNP Paribas Arbitrage SA now owns 7,229 shares of the medical equipment provider’s stock worth $125,000 after buying an additional 6,419 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in shares of NovoCure Limited during the second quarter worth about $126,000. Fox Run Management L.L.C. acquired a new stake in shares of NovoCure Limited during the second quarter worth about $225,000. Finally, TIAA FSB acquired a new stake in shares of NovoCure Limited during the second quarter worth about $238,000. 24.96% of the stock is owned by hedge funds and other 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.

Analyst Recommendations for NovoCure Limited (NASDAQ:NVCR)

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