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Fintel reports that on August 8, 2023, Piper Sandler upgraded their outlook for NovoCure (NASDAQ:NVCR) from Neutral to Overweight .

Analyst Price Forecast Suggests 222.70% Upside

As of August 2, 2023, the average one-year price target for NovoCure is 86.87. The forecasts range from a low of 33.33 to a high of $210.00. The average price target represents an increase of 222.70% from its latest reported closing price of 26.92.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for NovoCure is 550MM, an increase of 8.43%. The projected annual non-GAAP EPS is -1.01.

What is the Fund Sentiment?

There are 608 funds or institutions reporting positions in NovoCure. This is a decrease of 16 owner(s) or 2.56% in the last quarter. Average portfolio weight of all funds dedicated to NVCR is 0.15%, a decrease of 13.93%. Total shares owned by institutions increased in the last three months by 5.18% to 107,830K shares. NVCR / NovoCure Ltd Put/Call Ratios The put/call ratio of NVCR is 0.74, indicating a bullish outlook.

What are Other Shareholders Doing?

NVCR / NovoCure Ltd Shares Held by Institutions

Capital World Investors holds 14,025K shares representing 13.15% ownership of the company. In it’s prior filing, the firm reported owning 12,850K shares, representing an increase of 8.38%. The firm decreased its portfolio allocation in NVCR by 13.22% over the last quarter.

Baillie Gifford holds 8,690K shares representing 8.15% ownership of the company. In it’s prior filing, the firm reported owning 8,604K shares, representing an increase of 1.00%. The firm decreased its portfolio allocation in NVCR by 34.33% over the last quarter.

Capital International Investors holds 7,649K shares representing 7.17% ownership of the company. In it’s prior filing, the firm reported owning 7,952K shares, representing a decrease of 3.96%. The firm decreased its portfolio allocation in NVCR by 24.41% over the last quarter.

AGTHX – GROWTH FUND OF AMERICA holds 7,407K shares representing 6.95% ownership of the company. In it’s prior filing, the firm reported owning 7,289K shares, representing an increase of 1.60%. The firm decreased its portfolio allocation in NVCR by 9.99% over the last quarter.

FDGRX – Fidelity Growth Company Fund holds 4,664K shares representing 4.37% ownership of the company. In it’s prior filing, the firm reported owning 4,676K shares, representing a decrease of 0.27%. The firm decreased its portfolio allocation in NVCR by 17.26% 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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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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