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

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Novocure Ltd (NASDAQ:NVCR) has received a consensus rating of “Buy” from the eleven brokerages that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $75.80.

Several analysts have recently weighed in on NVCR shares. ValuEngine raised shares of Novocure from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 26th. Mizuho increased their price objective on shares of Novocure from $63.00 to $91.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Zacks Investment Research cut shares of Novocure from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. BidaskClub raised shares of Novocure from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 12th. Finally, Oppenheimer set a $85.00 price objective on shares of Novocure and gave the stock a “buy” rating in a research report on Friday, July 26th.

NVCR stock traded up $3.55 during mid-day trading on Friday, reaching $89.92. The company’s stock had a trading volume of 12,621 shares, compared to its average volume of 927,128. The stock has a market cap of $8.56 billion, a PE ratio of -129.19 and a beta of 2.46. The company has a debt-to-equity ratio of 1.01, a quick ratio of 4.68 and a current ratio of 5.03. Novocure has a fifty-two week low of $26.02 and a fifty-two week high of $90.20. The company’s 50 day moving average price is $73.54.

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

In other Novocure news, insider William F. Doyle sold 1,900 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $53.10, for a total transaction of $100,890.00. Following the sale, the insider now directly owns 894,563 shares in the company, valued at approximately $47,501,295.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Asaf Danziger sold 190,338 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $59.37, for a total transaction of $11,300,367.06. Following the sale, the chief executive officer now owns 448,649 shares in the company, valued at $26,636,291.13. The disclosure for this sale can be found here. Insiders have sold a total of 748,966 shares of company stock valued at $44,624,183 in the last ninety days. 5.60% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd lifted its holdings in Novocure by 1,337.1% during the 2nd quarter. Point72 Hong Kong Ltd now owns 503 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 468 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Novocure by 2.3% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 21,799 shares of the medical equipment provider’s stock worth $1,378,000 after buying an additional 500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Novocure by 13.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,573 shares of the medical equipment provider’s stock worth $289,000 after buying an additional 546 shares in the last quarter. Rice Hall James & Associates LLC lifted its holdings in Novocure by 4.1% during the 1st quarter. Rice Hall James & Associates LLC now owns 15,215 shares of the medical equipment provider’s stock worth $733,000 after buying an additional 600 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Novocure by 6.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 12,362 shares of the medical equipment provider’s stock worth $782,000 after buying an additional 697 shares in the last quarter. Institutional investors own 63.98% of the company’s stock.

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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