Mizuho Securities analyst Difei Yang maintained a Buy rating on NovoCure Ltd (NVCR) today and set a price target of $63. The company’s shares opened today at $49.79.
Yang noted:
“We spoke to management – our takeaways are below. What happens next: the proposed LCD will now be subject to a 45-day public comment period (through June 24, 2019) where DME MACs will consider feedback from stakeholders including patients, advocacy groups, prescribers and the general public. An open meeting will be held on to discuss the proposed policy. Following this public comment period, a final LCD will be published (inclusive of responses to all public comments from the DME MACs). Once the final LCD is published, there will be another 45 days until is it accepted. (One piece of timeline that remains TBD here is the time it will take to publish the final LCD post the public comment period). For modeling purposes, we continue to anticipate Medicare revenues in 4Q19.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 12.1% and a 43.9% 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 Strong Buy, with a price target consensus of $61, which is a 22.5% upside from current levels. In a report issued on May 2, J.P. Morgan also maintained a Buy rating on the stock with a $61 price target.
See today’s analyst top recommended stocks >>
Based on NovoCure Ltd’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $12.15 million. In comparison, last year the company had a GAAP net loss of $20.72 million.
Based on the recent corporate insider activity of 101 insiders, corporate insider sentiment is neutral on the stock.
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. is global oncology company, which engages in the development and commercialization of its innovative therapy. It focuses on the commercial adoption of Optune, and its Tumor Treating Fields delivery system, for the treatment of glioblastoma (GBM), and to advance programs testing the efficacy and safety of Optune in multiple solid tumor indications through clinical pipeline. The company was founded by Yoram Palti in 2000 and is headquartered in St. Helier, Jersey.
