Analysts Set NovoCure Limited (NASDAQ:NVCR) PT at $32.67

Shares of NovoCure Limited (NASDAQ:NVCR) have been given a consensus rating of “Moderate Buy” by the six research firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $32.67.

A number of research analysts have weighed in on NVCR shares. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price objective on shares of NovoCure in a research note on Tuesday, January 14th. Wedbush reissued a “neutral” rating and set a $29.00 price objective on shares of NovoCure in a report on Monday, January 13th. Piper Sandler raised their target price on NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Evercore ISI raised NovoCure from an “in-line” rating to an “outperform” rating and increased their price target for the company from $18.00 to $30.00 in a research report on Monday, December 2nd.

NovoCure Trading Up 2.2 %

NASDAQ NVCR opened at $24.18 on Thursday. NovoCure has a 52 week low of $11.70 and a 52 week high of $34.13. The business has a 50 day moving average price of $28.03 and a 200-day moving average price of $21.21. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. The company has a market cap of $2.62 billion, a price-to-earnings ratio of -17.27 and a beta of 0.62.

Institutional Trading of NovoCure

A number of large investors have recently bought and sold shares of NVCR. Blue Trust Inc. boosted its holdings in shares of NovoCure by 70.7% in the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock worth $56,000 after acquiring an additional 781 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in NovoCure in the 2nd quarter worth $34,000. Brooklyn Investment Group bought a new position in NovoCure during the 3rd quarter worth approximately $45,000. Versant Capital Management Inc raised its holdings in NovoCure by 35.8% during the 4th quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock valued at $100,000 after buying an additional 880 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in NovoCure by 58.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock valued at $57,000 after purchasing an additional 1,354 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

About NovoCure

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company’s TTFields devices include Optune Gio and Optune Lua.