In the last trading session, 1.47 million NovoCure Ltd (NASDAQ:NVCR) shares changed hands as the company’s beta touched 0.71. With the company’s per share price at $16.27 changed hands at -$0.94 or -5.46% during last session, the market valuation stood at $1.76B. NVCR’s last price was a discount, traded about -52.06% off its 52-week high of $24.74. The share price had its 52-week low at $10.87, which suggests the last value was 33.19% up since then. When we look at NovoCure Ltd’s average trading volume, we note the 10-day average is 1.81 million shares, with the 3-month average coming to 1.13 million.
Analysts gave the NovoCure Ltd (NVCR) stock a consensus recommendation rating of Hold, calculated at a mean rating of 1.86. If we narrow down to specifics, the data shows that 1 out of 5 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 3 recommended NVCR as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. NovoCure Ltd’s EPS for the current quarter is expected to be -0.33.
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NovoCure Ltd (NASDAQ:NVCR) trade information
Instantly NVCR was in red as seen at the end of in last trading. With action 1.31%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 8.98%, with the 5-day performance at 1.31% in the green. However, in the 30-day time frame, NovoCure Ltd (NASDAQ:NVCR) is -6.76% down. Looking at the short shares, we see there were 5.49 million shares sold at short interest cover period of 5.67 days.
The consensus price target for the stock as assigned by Wall Street analysts is 36, meaning bulls need an upside of 54.81% from its current market value. According to analyst projections, NVCR’s forecast low is 14.5 with 200 as the target high. To hit the forecast high, the stock’s price needs a -1129.26% plunge from its current level, while the stock would need to tank 10.88% for it to hit the projected low.
NovoCure Ltd (NVCR) estimates and forecasts
Data shows that the NovoCure Ltd share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 37.53% over the past 6 months, a 30.77% in annual growth rate that is considerably higher than the industry average of 17.20%. Year-over-year growth is forecast to reach 14.00% up from the last financial year.
Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of 143.84M. 7 analysts are of the opinion that NovoCure Ltd’s revenue for the current quarter will be 147.74M. The company’s revenue for the corresponding quarters a year ago was 127.32M and 133.78M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 13.00%. The estimates for the next quarter sales put growth at 10.40%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -22.97%. The 2024 estimates are for NovoCure Ltd earnings to increase by 29.81%.
NVCR Dividends
NovoCure Ltd is expected to release its next quarterly earnings report in November.
NovoCure Ltd (NASDAQ:NVCR)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 9.23% of NovoCure Ltd shares while 96.06% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 105.82%. There are 96.06% institutions holding the NovoCure Ltd stock share, with FMR LLC the top institutional holder. As of 2024-06-30, the company held 15.0482% of the shares, roughly 16.14 million NVCR shares worth $276.51 million.
BLACKROCK INC. holds the second largest percentage of outstanding shares, with 11.3106% or 12.13 million shares worth $207.83 million as of 2024-06-30.
