NovoCure Limited (NASDAQ:NVCR)‘s stock had its “hold” rating reissued by Deutsche Bank AG in a research report issued to clients and investors on Monday. They currently have a $19.00 target price on the medical equipment provider’s stock, up from their previous target price of $18.00. Deutsche Bank AG’s target price suggests a potential upside of 1.33% from the stock’s previous close.
Other research analysts have also issued research reports about the stock. Aegis reaffirmed a “buy” rating and issued a $14.00 target price on shares of NovoCure Limited in a research note on Tuesday, March 28th. They noted that the move was a valuation call. Zacks Investment Research raised shares of NovoCure Limited from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Wednesday, April 19th. J P Morgan Chase & Co reaffirmed a “buy” rating and issued a $14.00 target price on shares of NovoCure Limited in a research note on Monday, May 1st. ValuEngine raised shares of NovoCure Limited from a “sell” rating to a “hold” rating in a research note on Saturday, June 3rd. Finally, Wells Fargo & Company raised shares of NovoCure Limited from a “market perform” rating to an “outperform” rating and set a $15.00 target price on the stock in a research note on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. NovoCure Limited has a consensus rating of “Buy” and an average target price of $18.00.
NovoCure Limited (NVCR) traded down 1.07% during mid-day trading on Monday, reaching $18.55. 185,597 shares of the company traded hands. The stock’s 50-day moving average price is $16.35 and its 200-day moving average price is $10.78. NovoCure Limited has a one year low of $5.95 and a one year high of $21.75. The firm’s market cap is $1.64 billion.
NovoCure Limited (NASDAQ:NVCR) last issued its earnings results on Thursday, April 27th. The medical equipment provider reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.04. The company had revenue of $34.88 million for the quarter, compared to analyst estimates of $39.46 million. NovoCure Limited had a negative net margin of 109.30% and a negative return on equity of 74.31%. Analysts forecast that NovoCure Limited will post ($0.80) earnings per share for the current fiscal year.
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In other NovoCure Limited news, CEO Asaf Danziger sold 180,601 shares of NovoCure Limited stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $15.13, for a total value of $2,732,493.13. Following the transaction, the chief executive officer now owns 1,163,296 shares of the company’s stock, valued at $17,600,668.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Pomona Capital Vii Fund Invest sold 1,072,532 shares of NovoCure Limited stock in a transaction that occurred on 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. Insiders have sold a total of 2,345,522 shares of company stock worth $39,398,092 in the last three months. 16.70% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fox Run Management L.L.C. bought a new position in shares of NovoCure Limited during the second quarter worth $225,000. Bank of America Corp DE raised its position in shares of NovoCure Limited by 61.7% in the first quarter. Bank of America Corp DE now owns 37,531 shares of the medical equipment provider’s stock worth $305,000 after buying an additional 14,321 shares during the last quarter. Geode Capital Management LLC raised its position in shares of NovoCure Limited by 14.6% in the first quarter. Geode Capital Management LLC now owns 128,632 shares of the medical equipment provider’s stock worth $1,041,000 after buying an additional 16,411 shares during the last quarter. Vanguard Group Inc. raised its position in shares of NovoCure Limited by 12.0% in the first quarter. Vanguard Group Inc. now owns 3,047,940 shares of the medical equipment provider’s stock worth $24,688,000 after buying an additional 325,512 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in shares of NovoCure Limited by 3.3% in the first quarter. Teachers Advisors LLC now owns 98,799 shares of the medical equipment provider’s stock worth $800,000 after buying an additional 3,125 shares during the last quarter. 25.59% of the stock is currently owned by hedge funds and other institutional investors.
NovoCure Limited Company Profile
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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