Novocure Ltd (NASDAQ:NVCR) has been assigned a consensus rating of “Buy” from the eleven research firms that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $75.80.
Several equities analysts have recently weighed in on NVCR shares. Oppenheimer set a $85.00 price objective on shares of Novocure and gave the stock a “buy” rating in a research note on Friday, July 26th. SunTrust Banks upgraded shares of Novocure from a “hold” rating to a “buy” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. cut shares of Novocure from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $61.00 to $79.00 in a research note on Friday, July 26th. Zacks Investment Research cut shares of Novocure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Finally, Wedbush cut shares of Novocure from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $57.00 to $80.00 in a research note on Friday, July 26th.
In other Novocure news, insider Pritesh Shah sold 7,020 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $83.00, for a total transaction of $582,660.00. Following the sale, the insider now owns 82,091 shares in the company, valued at approximately $6,813,553. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gabriel Leung sold 5,000 shares of the firm’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 sale, the director now owns 74,504 shares in the company, valued at approximately $6,440,870.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 748,966 shares of company stock worth $44,624,183. 5.60% of the stock is owned by company insiders.
Shares of NASDAQ:NVCR traded up $3.23 during trading on Friday, hitting $93.72. The company’s stock had a trading volume of 1,032,800 shares, compared to its average volume of 965,750. The company has a 50-day moving average of $74.81 and a 200-day moving average of $56.70. Novocure has a 12 month low of $26.02 and a 12 month high of $94.55. The company has a debt-to-equity ratio of 1.01, a current ratio of 5.03 and a quick ratio of 4.68. The firm has a market cap of $8.48 billion, a price-to-earnings ratio of -135.83 and a beta of 2.46.
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, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.06. Novocure had a negative net margin of 13.84% and a negative return on equity of 31.80%. The firm had revenue of $86.70 million for the quarter, compared to analysts’ expectations of $78.98 million. During the same quarter in the prior year, the business earned ($0.17) EPS. The business’s quarterly revenue was up 41.0% on a year-over-year basis. As a group, research analysts anticipate that Novocure will post -0.22 earnings per share for the current year.
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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