NovoCure Limited (NASDAQ:NVCR) received an average rating of Hold from analysts.

NovoCure Limited (NASDAQ:NVCR – Get Rating) shares have been assigned a consensus rating of “Hold” by the nine market research firms currently covering the company, reports Marketbeat. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers who have covered the stock over the past year is $108.88.

A number of research companies have commented on NVCR. HC Wainwright raised its target price on NovoCure to $140.00 from $100.00 and issued a buy recommendation for the company in a report on Thursday, January 5th. JPMorgan Chase & Co. has raised its target price on NovoCure to $99.00 from $86.00, rating the company “neutral” in a report on Friday, January 6th. Truist Financial lowered its price target on NovoCure to $102.00 from $105.00 and gave the stock a “buy” rating in a report dated Friday, October 28. StockNews.com downgraded NovoCure from a “hold” rating to a “sell” rating in a report Tuesday. Finally, Piper Sandler lowered NovoCure from an “overweight” rating to a “neutral” rating and lowered the price target on the company to $70.00 from $90.00 in a report on Monday, October 24.

insider activity

In addition, CEO Asaf Danziger sold 212,500 shares of the company’s shares in a transaction on Thursday, January 5th. The stock sold at an average price of $108.74 for a total transaction of $23,107,250.00. Upon completion of the transaction, the Chief Executive Officer now owns 13,583 shares of the Company, valued at $1,477,015.42. The sale was disclosed in a document filed with the SEC, which is available on the SEC’s website. In related news, insider Uri Weinberg sold 8,143 shares of NovoCure in a transaction on Thursday, January 5th. The stock sold at an average price of $116.14 for a total value of $945,728.02. Following the closing of the transaction, the insider now owns 43,286 shares of the company, valued at $5,027,236.04. The transaction was disclosed in a document filed with the SEC, available at this hyperlink. In addition, CEO Asaf Danziger sold 212,500 NovoCure shares in a transaction on Thursday, January 5th. The stock sold at an average price of $108.74 for a total value of $23,107,250.00. Upon completion of the transaction, the Chief Executive Officer now owns 13,583 shares of the Company, valued at approximately $1,477,015.42. The disclosure for this sale can be found here. Insiders sold a total of 227,397 shares of the company’s stock valued at $24,566,350 over the past 90 days. Company insiders own 6.22% of the company’s shares.

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Institutional inflows and outflows

Several institutional investors and hedge funds have recently added to or reduced their holdings in the stock. Cherry Creek Investment Advisors Inc. increased its position in NovoCure by 2.4% in the second quarter. Cherry Creek Investment Advisors Inc. now owns 6,460 shares of the medical device maker, valued at $449,000, after purchasing an additional 150 shares last quarter. Pictet Asset Management SA increased its position in shares of NovoCure by 0.4% in the second quarter. Pictet Asset Management SA now owns 39,391 shares of the medical equipment maker, valued at $2,738,000, after purchasing a further 151 shares during the period. United Capital Financial Advisers LLC increased its position in shares of NovoCure by 2.2% in the second quarter. United Capital Financial Advisers LLC now owns 8,072 shares of the medical device maker, valued at $561,000, after purchasing an additional 172 shares during the period. Commerce Bank increased its position in shares of NovoCure by 4.4% in the third quarter. Commerce Bank now owns 4,191 shares of the $318,000 medical equipment maker after purchasing an additional 177 shares during the period. Finally, Nova R Wealth Inc. increased its position in shares of NovoCure by 2.7% in the second quarter. Nova R Wealth Inc. now owns 7,132 shares of the medical equipment maker, valued at $496,000, after purchasing an additional 189 shares during the period. Hedge funds and other institutional investors own 78.42% of the company’s shares.

NovoCure value for money

Shares of NovoCure opened at $93.03 on Wednesday. NovoCure has a yearly low of $56.39 and a yearly high of $120.03. The stock’s 50-day moving average is $77.33 and the 200-day moving average is $77.08. The stock has a market cap of $9.76 billion, a P/E of -120.82 and a beta of 0.78. The company has a debt to equity ratio of 1.27, a quick ratio of 7.62 and a current ratio of 7.81.

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NovoCure (NASDAQ:NVCR – Get Rating) last announced earnings results on Thursday, October 27th. The medical device maker reported earnings per share of ($0.25) for the quarter, beating analyst consensus estimates of ($0.30) by $0.05. NovoCure had a negative return on equity of 18.85% and a negative net margin of 15.05%. The company had revenue of $131.00 million for the quarter, compared to analysts’ expectations of $134.83 million. Sell-side analysts expect NovoCure to report year-to-date EPS of -0.84.

NovoCure Company Profile

(get rating)

NovoCure Limited, an oncology company, is engaged in the development, manufacture and marketing of TTFields (Tumor Treating Fields) devices for the treatment of solid tumors in the United States, Europe, the Middle East, Africa, Japan and Greater China. Its TTFields devices include Optune for the treatment of glioblastoma; and Optune Lua for the treatment of malignant pleural mesothelioma.

Further reading

Analyst Recommendations for NovoCure (NASDAQ:NVCR)

This instant news alert was generated by MarketBeat’s narrative science technology and financial data to provide readers with the fastest, most accurate reporting. This story was reviewed by the MarketBeat editorial team prior to publication. Please send questions or comments about this story to [email protected]

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