Fintel reports that on December 2, 2024, Evercore ISI Group upgraded their outlook for NovoCure (NasdaqGS:NVCR) from In-Line to Outperform.
Analyst Price Forecast Suggests 35.97% Upside
As of November 21, 2024, the average one-year price target for NovoCure is $27.25/share. The forecasts range from a low of $18.18 to a high of $42.00. The average price target represents an increase of 35.97% from its latest reported closing price of $20.04 / share.
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The projected annual revenue for NovoCure is 610MM, an increase of 5.58%. The projected annual non-GAAP EPS is -0.82.
What is the Fund Sentiment?
There are 502 funds or institutions reporting positions in NovoCure. This is an increase of 44 owner(s) or 9.61% in the last quarter. Average portfolio weight of all funds dedicated to NVCR is 0.11%, an increase of 10.33%. Total shares owned by institutions increased in the last three months by 10.04% to 117,770K shares. 
The put/call ratio of NVCR is 0.16, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital International Investors holds 7,923K shares representing 7.32% ownership of the company. In its prior filing, the firm reported owning 11,696K shares , representing a decrease of 47.63%. The firm decreased its portfolio allocation in NVCR by 42.38% over the last quarter.
SMCWX - SMALLCAP WORLD FUND INC holds 6,524K shares representing 6.03% ownership of the company. In its prior filing, the firm reported owning 4,524K shares , representing an increase of 30.66%. The firm increased its portfolio allocation in NVCR by 23.40% over the last quarter.
FDGRX - Fidelity Growth Company Fund holds 5,310K shares representing 4.91% ownership of the company. In its prior filing, the firm reported owning 5,245K shares , representing an increase of 1.22%. The firm decreased its portfolio allocation in NVCR by 14.48% over the last quarter.
Capital World Investors holds 4,308K shares representing 3.98% ownership of the company. In its prior filing, the firm reported owning 2,308K shares , representing an increase of 46.42%. The firm increased its portfolio allocation in NVCR by 61.91% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,423K shares representing 3.16% ownership of the company. In its prior filing, the firm reported owning 3,418K shares , representing an increase of 0.16%. The firm decreased its portfolio allocation in NVCR by 14.16% over the last quarter.
NovoCure Background Information
(This description is provided by the company.)
Novocure is a global oncology company working to extend survival in some of the most aggressive forms of cancer through the development and commercialization of its innovative therapy, Tumor Treating Fields. Tumor Treating Fields is a cancer therapy that uses electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Novocure's commercialized products are approved for the treatment of adult patients with glioblastoma and malignant pleural mesothelioma. Novocure has ongoing or completed clinical trials investigating Tumor Treating Fields in brain metastases, non-small cell lung cancer, pancreatic cancer, ovarian cancer and liver cancer.
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