NovoCure Limited (NASDAQ:NVCR) Receives $18.00 Consensus Price Target from Analysts

NovoCure Limited (NASDAQ:NVCR) has been assigned a consensus rating of “Buy” from the nine analysts that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $19.33.

NVCR has been the subject of several analyst reports. Zacks Investment Research raised shares of NovoCure Limited from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Tuesday, May 2nd. J P Morgan Chase & Co reissued a “buy” rating and issued a $14.00 target price on shares of NovoCure Limited in a research note on Monday, May 1st. Aegis reissued a “buy” rating and issued a $14.00 target price on shares of NovoCure Limited in a research note on Tuesday, April 18th. BidaskClub cut shares of NovoCure Limited from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, ValuEngine raised shares of NovoCure Limited from a “sell” rating to a “hold” rating in a research report on Saturday, June 3rd.

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NovoCure Limited (NASDAQ NVCR) traded down 0.28% during mid-day trading on Friday, hitting $18.00. 449,092 shares of the company traded hands. The company’s 50-day moving average is $18.61 and its 200-day moving average is $12.11. NovoCure Limited has a one year low of $5.95 and a one year high of $21.75. The stock’s market capitalization is $1.60 billion.

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

In other news, insider Yoram Palti sold 8,000 shares of the business’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $12.05, for a total value of $96,400.00. Following the completion of the sale, the insider now owns 55,825 shares of the company’s stock, valued at $672,691.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Pomona Capital Vii Fund Invest sold 1,072,532 shares of the business’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $17.35, for a total transaction of $18,608,430.20. The disclosure for this sale can be found here. In the last three months, insiders sold 2,273,522 shares of company stock valued at $38,570,172. 16.70% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the stock. Teachers Advisors LLC boosted its stake in shares of NovoCure Limited by 21.2% in the fourth quarter. Teachers Advisors LLC now owns 95,674 shares of the medical equipment provider’s stock worth $751,000 after buying an additional 16,741 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of NovoCure Limited by 18.4% in the fourth quarter. Macquarie Group Ltd. now owns 98,087 shares of the medical equipment provider’s stock worth $770,000 after buying an additional 15,218 shares during the last quarter. Peregrine Capital Management LLC increased its position in NovoCure Limited by 7.4% in the first quarter. Peregrine Capital Management LLC now owns 1,210,934 shares of the medical equipment provider’s stock worth $10,051,000 after buying an additional 83,448 shares during the period. Creative Planning increased its position in NovoCure Limited by 32.1% in the first quarter. Creative Planning now owns 16,857 shares of the medical equipment provider’s stock worth $137,000 after buying an additional 4,100 shares during the period. Finally, Bank of New York Mellon Corp increased its position in NovoCure Limited by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 173,523 shares of the medical equipment provider’s stock worth $1,406,000 after buying an additional 2,480 shares during the period. 24.96% of the stock is owned by institutional investors.

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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