NovoCure Limited (NVCR) Receives $19.33 Average Price Target from Analysts
Shares of NovoCure Limited (NASDAQ:NVCR) have been assigned an average recommendation of “Buy” from the nine research firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $19.33.
Several analysts recently commented on the company. Wells Fargo & Company raised NovoCure Limited from a “market perform” rating to an “outperform” rating and set a $15.00 price objective on the stock in a research note on Wednesday, May 24th. Deutsche Bank AG increased their target price on NovoCure Limited from $10.00 to $11.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Wedbush reiterated an “outperform” rating and set a $20.00 target price on shares of NovoCure Limited in a report on Thursday, April 27th. Zacks Investment Research cut NovoCure Limited from a “buy” rating to a “hold” rating in a report on Saturday, April 22nd. Finally, BidaskClub upgraded NovoCure Limited from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st.
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In other news, CEO Asaf Danziger sold 7,383 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $19.95, for a total value of $147,290.85. Following the completion of the transaction, the chief executive officer now owns 462,765 shares in the company, valued at approximately $9,232,161.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Pomona Capital Vii Fund Invest sold 1,072,532 shares of the firm’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $17.35, for a total value of $18,608,430.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,253,522 shares of company stock valued at $38,336,772. Corporate insiders own 16.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its position in shares of NovoCure Limited by 50.4% in the second quarter. FMR LLC now owns 6,888,120 shares of the medical equipment provider’s stock valued at $119,165,000 after buying an additional 2,309,559 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of NovoCure Limited by 6,617.7% in the second quarter. Goldman Sachs Group Inc. now owns 4,988,007 shares of the medical equipment provider’s stock valued at $86,293,000 after buying an additional 4,913,755 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of NovoCure Limited by 40.5% in the second quarter. Vanguard Group Inc. now owns 4,283,862 shares of the medical equipment provider’s stock valued at $74,111,000 after buying an additional 1,235,922 shares during the last quarter. State Street Corp boosted its position in shares of NovoCure Limited by 17.0% in the second quarter. State Street Corp now owns 1,082,589 shares of the medical equipment provider’s stock valued at $18,728,000 after buying an additional 157,642 shares during the last quarter. Finally, Frontier Capital Management Co. LLC bought a new position in shares of NovoCure Limited during the second quarter valued at $14,308,000. Institutional investors own 25.15% of the company’s stock.
Shares of NovoCure Limited (NVCR) traded down 2.08% on Tuesday, hitting $18.85. The stock had a trading volume of 860,918 shares. The company’s market capitalization is $1.68 billion. The firm has a 50 day moving average price of $18.94 and a 200 day moving average price of $12.66. NovoCure Limited has a one year low of $5.95 and a one year high of $21.75.
NovoCure Limited (NASDAQ:NVCR) last issued its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by $0.01. The business had revenue of $38.38 million for the quarter, compared to analyst estimates of $42.20 million. NovoCure Limited had a negative return on equity of 69.48% and a negative net margin of 75.91%. On average, equities research analysts predict that NovoCure Limited will post ($0.75) earnings per share for the current fiscal year.
About NovoCure Limited
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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