In a report released today, Esther Rajavelu from Oppenheimer maintained a Buy rating on NovoCure (NVCR), with a price target of $102.00. The company’s shares closed last Monday at $69.73.
According to TipRanks.com, Rajavelu has 0 stars on 0-5 star ranking scale with an average return of -8.5% and a 35.1% success rate. Rajavelu covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co, Teva Pharmaceutical Industries, and Arrowhead Pharmaceuticals.
Currently, the analyst consensus on NovoCure is a Moderate Buy with an average price target of $90.40, implying a 29.1% upside from current levels. In a report issued on February 28, Mizuho Securities also maintained a Buy rating on the stock with a $91.00 price target.
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Based on NovoCure’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $4.26 million. In comparison, last year the company had a GAAP net loss of $15.63 million.
Based on the recent corporate insider activity of 113 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.
