Novocure Ltd (NASDAQ:NVCR) has been given an average rating of “Hold” by the nine research firms that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $49.75.

Several research analysts have weighed in on the company. Zacks Investment Research downgraded Novocure from a “buy” rating to a “hold” rating in a research note on Tuesday, October 30th. Mizuho restated a “buy” rating and issued a $51.00 price target on shares of Novocure in a research note on Thursday. ValuEngine downgraded Novocure from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. BidaskClub downgraded Novocure from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 22nd. Finally, Wells Fargo & Co downgraded Novocure from an “outperform” rating to a “market perform” rating in a research note on Friday, November 2nd.

Novocure stock traded down $0.28 during midday trading on Monday, hitting $34.26. The stock had a trading volume of 19,408 shares, compared to its average volume of 662,537. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of -48.90 and a beta of 3.73. Novocure has a 52-week low of $18.20 and a 52-week high of $53.70. The company has a current ratio of 6.17, a quick ratio of 5.72 and a debt-to-equity ratio of 1.30.

Novocure (NASDAQ:NVCR) last posted its quarterly earnings results on Thursday, October 25th. The medical equipment provider reported ($0.13) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.02. Novocure had a negative return on equity of 52.72% and a negative net margin of 25.37%. The business had revenue of $64.76 million during the quarter, compared to the consensus estimate of $65.61 million. On average, analysts predict that Novocure will post -0.68 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Novocure by 9.6% in the third quarter. Vanguard Group Inc. now owns 5,424,908 shares of the medical equipment provider’s stock worth $284,265,000 after buying an additional 476,635 shares during the last quarter. Teachers Advisors LLC lifted its stake in shares of Novocure by 1.9% during the third quarter. Teachers Advisors LLC now owns 142,965 shares of the medical equipment provider’s stock worth $7,491,000 after purchasing an additional 2,712 shares in the last quarter. Macquarie Group Ltd. lifted its stake in shares of Novocure by 89.0% during the third quarter. Macquarie Group Ltd. now owns 1,104,117 shares of the medical equipment provider’s stock worth $57,856,000 after purchasing an additional 519,988 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Novocure by 247.4% during the third quarter. Advisors Asset Management Inc. now owns 40,478 shares of the medical equipment provider’s stock worth $2,121,000 after purchasing an additional 28,825 shares in the last quarter. Finally, Man Group plc lifted its stake in shares of Novocure by 15.3% during the third quarter. Man Group plc now owns 170,756 shares of the medical equipment provider’s stock worth $8,948,000 after purchasing an additional 22,631 shares in the last quarter. Hedge funds and other institutional investors own 58.58% of the company’s stock.

About Novocure

Novocure Ltd. operates as an oncology company. It enages in developing its propriety technoclogy, Tumor Treating Fields, which uses electric fields tuned to specific frequencies to disrupt cancer cell division, inhibiting tumor growth, and causing affected cancer cells to die. The company was founded by Yoram Palti in 2000 and is headquartered in St.

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Analyst Recommendations for Novocure (NASDAQ:NVCR)

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