Brokerages Set Novocure Ltd (NASDAQ:NVCR) Price Target at $75.80

Novocure Ltd (NASDAQ:NVCR) has earned an average recommendation of “Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $75.80.

NVCR has been the subject of several recent research reports. TheStreet upgraded Novocure from a “d” rating to a “c-” rating in a research report on Friday, July 26th. BidaskClub upgraded Novocure from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 12th. Oppenheimer set a $85.00 price target on Novocure and gave the stock a “buy” rating in a research report on Friday, July 26th. Wedbush lowered Novocure from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $57.00 to $80.00 in a research report on Friday, July 26th. Finally, Mizuho lifted their price target on Novocure from $63.00 to $91.00 and gave the stock a “buy” rating in a research report on Friday, July 26th.

In other Novocure news, Director Gabriel Leung sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $86.45, for a total transaction of $432,250.00. Following the completion of the transaction, the director now owns 74,504 shares in the company, valued at $6,440,870.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles G. Phillips III sold 95,100 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $52.17, for a total value of $4,961,367.00. Following the transaction, the director now owns 59,504 shares of the company’s stock, valued at approximately $3,104,323.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 748,966 shares of company stock valued at $44,624,183. 5.60% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in NVCR. Nuveen Asset Management LLC raised its stake in Novocure by 1,994.7% in the second quarter. Nuveen Asset Management LLC now owns 508,172 shares of the medical equipment provider’s stock worth $30,922,000 after buying an additional 483,912 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Novocure by 21.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,357,482 shares of the medical equipment provider’s stock worth $149,064,000 after purchasing an additional 421,235 shares during the last quarter. UBS Asset Management Americas Inc. grew its holdings in Novocure by 0.3% in the second quarter. UBS Asset Management Americas Inc. now owns 344,863 shares of the medical equipment provider’s stock worth $21,806,000 after purchasing an additional 1,064 shares during the last quarter. Point72 Hong Kong Ltd grew its holdings in Novocure by 1,337.1% in the second quarter. Point72 Hong Kong Ltd now owns 503 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 468 shares during the last quarter. Finally, Morgan Stanley grew its holdings in Novocure by 18.8% in the second quarter. Morgan Stanley now owns 102,027 shares of the medical equipment provider’s stock worth $6,452,000 after purchasing an additional 16,150 shares during the last quarter. Institutional investors and hedge funds own 63.98% of the company’s stock.

Shares of Novocure stock traded up $3.55 during trading on Friday, reaching $89.92. 12,621 shares of the stock traded hands, compared to its average volume of 927,128. The firm has a market cap of $8.56 billion, a P/E ratio of -129.19 and a beta of 2.46. The firm’s fifty day moving average price is $73.54. The company has a debt-to-equity ratio of 1.01, a current ratio of 5.03 and a quick ratio of 4.68. Novocure has a 52-week low of $26.02 and a 52-week high of $90.20.

Novocure (NASDAQ:NVCR) last issued its quarterly earnings data on Thursday, July 25th. The medical equipment provider reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.06. The firm had revenue of $86.70 million during the quarter, compared to analyst estimates of $78.98 million. Novocure had a negative return on equity of 31.80% and a negative net margin of 13.84%. The business’s quarterly revenue was up 41.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) earnings per share. On average, sell-side analysts predict that Novocure will post -0.22 EPS for the current year.

About Novocure

Novocure Ltd. is global oncology company, which engages in the development and commercialization of its innovative therapy. It focuses on the commercial adoption of Optune, and its Tumor Treating Fields delivery system, for the treatment of glioblastoma (GBM), and to advance programs testing the efficacy and safety of Optune in multiple solid tumor indications through clinical pipeline.

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Analyst Recommendations for Novocure (NASDAQ:NVCR)

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