Northland Securities analyst Jason Wittes assigned a Buy rating to NovoCure (NVCR) today and set a price target of $250.00. The company’s shares closed last Thursday at $206.63, close to its 52-week high of $220.48.
According to TipRanks.com, Wittes is a 4-star analyst with an average return of 16.3% and a 62.4% success rate. Wittes covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Alphatec Holdings, and Globus Medical.
Currently, the analyst consensus on NovoCure is a Moderate Buy with an average price target of $191.57, a -3.0% downside from current levels. In a report issued on April 14, Mizuho Securities also reiterated a Buy rating on the stock with a $242.00 price target.
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The company has a one-year high of $220.48 and a one-year low of $55.40. Currently, NovoCure has an average volume of 1.06M.
Based on the recent corporate insider activity of 94 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. develops treatment for tumors. Its platform is called the Tumor Treating Field which used electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. The company was founded by Yoram Palti in 2000 and is headquartered in St. Helier, Jersey.
