At the time of writing, NovoCure Limited [NVCR] stock is trading at $78.00, down -2.55%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The NVCR shares have gain 11.33% over the last week, with a monthly amount glided 9.66%, and seem to be holding up well over a long-time horizon.
On 29, November 2022, Novocure’s Optune® Approved in Canada for the Treatment of Newly Diagnosed and Recurrent Glioblastoma. In a post published today on Yahoo Finance, Optune is the first treatment for glioblastoma approved in Canada in over 12 years.
From an analyst’s perspective:
NovoCure Limited [NASDAQ: NVCR] stock has seen the most recent analyst activity on November 29, 2022, when Wells Fargo upgraded its rating to a Overweight and also boosted its price target to $89 from $74. Previously, Piper Sandler downgraded its rating to Neutral on October 24, 2022, and dropped its price target to $70. On July 05, 2022, downgrade downgraded it’s rating to Underperform. H.C. Wainwright started tracking the stock assigning a Buy rating and suggested a price target of $115 on May 16, 2022. Loop Capital initiated its recommendation with a Buy and recommended $200 as its price target on February 08, 2022. Oppenheimer upgraded its rating to Outperform for this stock on February 02, 2022, but kept the price target unchanged to $98. In a note dated January 20, 2022, Truist upgraded an Buy rating on this stock but restated the target price of $125.
For the past year, the stock price of NovoCure Limited fluctuated between $56.39 and $94.00. Currently, Wall Street analysts expect the stock to reach $92.29 within the next 12 months. NovoCure Limited [NASDAQ: NVCR] shares were valued at $78.00 at the most recent close of the market. An investor can expect a potential return of 18.32% based on the average NVCR price forecast.
Analyzing the NVCR fundamentals
According to NovoCure Limited [NASDAQ:NVCR], the company’s sales were 131.0 billion in the recent quarter, which represents an -1.90% plunge. Gross Margin for this corporation currently stands at +78.65% with Operating Margin at -8.17%, Pretax Margin comes in at -9.73%, and Net Margin reading is -10.91%.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 75.75 points at the first support level, and at 73.49 for the second support level. However, for the 1st resistance point, the stock is sitting at 79.86, and for the 2nd resistance point, it is at 81.72.
NovoCure Limited [NVCR] reported earnings per share of -$0.25 for its fiscal quarter that ended on 9/29/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.26/share, meaning a difference of $0.01 and a surprise factor of 3.80%. By comparison, the stated earnings for the previous quarter ended on 6/29/2022 were -$0.23 per share as compared to estimates of -$0.14 per share, a difference of -$0.09 representing a surprise of -64.30%.
Ratios To Look Out For
It is important to note that NovoCure Limited [NASDAQ:NVCR] has a current ratio of 7.80. As well, the Quick Ratio is 7.36, while the Cash Ratio is 6.58. Considering the valuation of this stock, the price to sales ratio is 14.51, the price to book ratio is 19.02.
Transactions by insiders
Insider trading has also been a hot topic recently, with 2 insiders purchasing 12,347 shares and 7 selling 46,041 shares in the past 3 months. Recent insider trading involved Leonard Frank X, President, CNS Cancers US, that happened on Oct 13 when 6754.0 shares were sold. President, CNS Cancers US, Leonard Frank X completed a deal on Oct 06 to sell 6754.0 shares. Meanwhile, President, CNS Cancers US Leonard Frank X sold 6754.0 shares on Sep 29.