Wells Fargo Believes NovoCure Ltd (NVCR) Still Has Room to Grow
In a report released today, Larry Biegelsen from Wells Fargo maintained a Buy rating on NovoCure Ltd (NASDAQ: NVCR). The company’s shares opened today at $48.90, close to its 52-week high of $49.25.
According to TipRanks.com, Biegelsen is a 5-star analyst with an average return of 20.1% and a 73.4% success rate. Biegelsen covers the Healthcare sector, focusing on stocks such as Merit Medical Systems, Intuitive Surgical, and Becton Dickinson.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for NovoCure Ltd with a $50.50 average price target, implying a 3.3% 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.
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The company has a one-year high of $49.25 and a one-year low of $16.10. Currently, NovoCure Ltd has an average volume of 745.2K.
Based on the recent corporate insider activity of 90 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.