Shares of Novocure Ltd (NASDAQ:NVCR) have earned an average recommendation of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $40.50.
Several equities analysts have recently weighed in on the company. Deutsche Bank downgraded Novocure from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. They noted that the move was a valuation call. JPMorgan Chase & Co. raised their price target on Novocure from $30.00 to $44.00 and gave the company an “overweight” rating in a report on Friday, July 27th. ValuEngine upgraded Novocure from a “buy” rating to a “strong-buy” rating in a report on Friday. Wedbush lifted their price objective on Novocure from $33.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, July 27th. Finally, BidaskClub downgraded Novocure from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st.
In related news, insider Eilon D. Kirson sold 346,161 shares of Novocure stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $28.90, for a total value of $10,004,052.90. Following the completion of the sale, the insider now directly owns 258,363 shares in the company, valued at approximately $7,466,690.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gabriel Leung sold 80,000 shares of the business’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $28.83, for a total value of $2,306,400.00. The disclosure for this sale can be found here. Insiders sold a total of 1,007,567 shares of company stock valued at $30,253,534 over the last quarter. 15.30% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Stratos Wealth Partners LTD. purchased a new position in shares of Novocure during the 1st quarter valued at about $109,000. CWM LLC purchased a new position in shares of Novocure during the 2nd quarter valued at about $163,000. D.A. Davidson & CO. purchased a new position in shares of Novocure during the 2nd quarter valued at about $210,000. Sigma Planning Corp purchased a new position in shares of Novocure during the 2nd quarter valued at about $216,000. Finally, Fred Alger Management Inc. purchased a new position in shares of Novocure during the 2nd quarter valued at about $219,000. Institutional investors and hedge funds own 48.02% of the company’s stock.
Novocure stock traded down $0.60 on Tuesday, hitting $34.75. 222,560 shares of the stock traded hands, compared to its average volume of 788,054. The company has a debt-to-equity ratio of 1.33, a current ratio of 6.41 and a quick ratio of 5.97. Novocure has a 1 year low of $16.10 and a 1 year high of $38.65.
Novocure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, July 26th. The medical equipment provider reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.01). Novocure had a negative net margin of 26.99% and a negative return on equity of 52.34%. The company had revenue of $61.50 million for the quarter, compared to the consensus estimate of $59.53 million. The business’s revenue was up 60.2% compared to the same quarter last year. sell-side analysts anticipate that Novocure will post -0.69 earnings per share for the current year.
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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