In a report released today, Difei Yang from Mizuho Securities maintained a Buy rating on NovoCure Ltd (NVCR), with a price target of $51. The company’s shares closed yesterday at $35.18.
Yang noted:
“We are encouraged by continued momentum in active patient growth within the GBM segment across all regions. A potential approval in mesothelioma is expected in 2019. On the reimbursement front, a contractor advisory committee (CAC) meeting is scheduled for 03/06/19. A draft of the local coverage determination (LCD) for Optune will follow, and we believe this could be an important catalyst for the shares. Novocure will report 4Q18/FY18 results on 02/28/19.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 14.0% and a 43.5% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Xeris Pharmaceuticals Inc, and Alder Biopharmaceuticals.
NovoCure Ltd has an analyst consensus of Moderate Buy, with a price target consensus of $43.50.
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Based on NovoCure Ltd’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $11.69 million. In comparison, last year the company had a GAAP net loss of $10.95 million.
Based on the recent corporate insider activity of 72 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NVCR in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
