NovoCure Limited (NASDAQ:NVCR) Given Average Rating of “Hold” by Brokerages

Shares of NovoCure Limited (NASDAQ:NVCR) have received a consensus rating of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $21.20.

A number of analysts have issued reports on the stock. Weiss Ratings upgraded shares of NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. Wall Street Zen raised shares of NovoCure from a “hold” rating to a “buy” rating in a research note on Saturday. Evercore restated an “outperform” rating on shares of NovoCure in a report on Friday, May 1st. HC Wainwright set a $32.00 target price on shares of NovoCure in a research note on Friday, July 24th. Finally, Wells Fargo & Company increased their target price on shares of NovoCure from $13.50 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th.

Insider Buying and Selling at NovoCure

In related news, Director Jeryl L. Hilleman sold 2,945 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total value of $46,442.65. Following the sale, the director owned 13,861 shares of the company’s stock, valued at $218,587.97. This trade represents a 17.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Frank X. Leonard sold 34,273 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $17.93, for a total transaction of $614,514.89. Following the completion of the sale, the chief executive officer directly owned 459,520 shares in the company, valued at approximately $8,239,193.60. This trade represents a 6.94% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 51,943 shares of company stock valued at $893,171. Insiders own 6.55% of the company’s stock.

Institutional Investors Weigh In On NovoCure

Several hedge funds and other institutional investors have recently made changes to their positions in NVCR. Handelsbanken Fonder AB raised its holdings in NovoCure by 37.2% during the second quarter. Handelsbanken Fonder AB now owns 51,223 shares of the medical equipment provider’s stock worth $776,000 after purchasing an additional 13,900 shares in the last quarter. Amundi raised its stake in shares of NovoCure by 19.9% during the first quarter. Amundi now owns 47,583 shares of the medical equipment provider’s stock worth $519,000 after purchasing an additional 7,907 shares during the last quarter. California State Teachers Retirement System grew its position in NovoCure by 43.6% in the 1st quarter. California State Teachers Retirement System now owns 142,561 shares of the medical equipment provider’s stock valued at $1,554,000 after buying an additional 43,257 shares during the last quarter. Eversept Partners LP increased its stake in NovoCure by 11.5% in the 1st quarter. Eversept Partners LP now owns 134,917 shares of the medical equipment provider’s stock valued at $1,471,000 after buying an additional 13,939 shares during the period. Finally, Quantinno Capital Management LP increased its stake in NovoCure by 23.7% in the 1st quarter. Quantinno Capital Management LP now owns 2,487,376 shares of the medical equipment provider’s stock valued at $27,112,000 after buying an additional 477,128 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

NovoCure Stock Up 4.5%

Shares of NASDAQ NVCR opened at $16.39 on Monday. The company has a quick ratio of 2.70, a current ratio of 2.89 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $16.29 and its two-hundred day moving average is $14.26. NovoCure has a 52-week low of $9.82 and a 52-week high of $21.45. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of -12.61 and a beta of 0.97.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, July 23rd. The medical equipment provider reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.20. The business had revenue of $183.58 million during the quarter, compared to analyst estimates of $172.44 million. NovoCure had a negative return on equity of 44.00% and a negative net margin of 21.25%.The company’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period last year, the business posted ($0.36) earnings per share. Research analysts predict that NovoCure will post -1.21 EPS for the current year.

About NovoCure

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.