In a report issued on September 12, Cory Kasimov from J.P. Morgan maintained a Buy rating on NovoCure Ltd (NASDAQ: NVCR). The company’s shares closed on Friday at $48.30, close to its 52-week high of $49.45.
According to TipRanks.com, Kasimov is a 3-star analyst with an average return of 2.9% and a 40.9% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals Inc, Global Blood Therapeutics, and Jounce Therapeutics Inc.
Currently, the analyst consensus on NovoCure Ltd is a Strong Buy with an average price target of $51.33, implying a 6.3% upside from current levels. In a report issued on September 6, Mizuho Securities also reiterated a Buy rating on the stock with a $58 price target.
The company has a one-year high of $49.45 and a one-year low of $16.10. Currently, NovoCure Ltd has an average volume of 748.3K.
Based on the recent corporate insider activity of 86 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.
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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.