NovoCure Limited (NVCR)’s Stock Is Buy After Forming Multiple Top Chart Pattern

January 21, 2018 - By Adrian Mccoy

The stock of NovoCure Limited (NVCR) shows a multiple tops pattern with $22.37 target or 6.00 % above today’s $21.10 share price. The 9 months chart pattern indicates low risk for the $1.89 billion company. It was reported on Jan, 21 by If the $22.37 price target is reached, the company will be worth $113.16 million more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 1.93% or $0.4 during the last trading session, reaching $21.1. About 729,873 shares traded. NovoCure Limited (NASDAQ:NVCR) has declined 0.43% since January 21, 2017 and is downtrending. It has underperformed by 17.13% the S&P500.

Analysts await NovoCure Limited (NASDAQ:NVCR) to report earnings on February, 22. They expect $-0.14 EPS, up 46.15 % or $0.12 from last year’s $-0.26 per share. After $-0.13 actual EPS reported by NovoCure Limited for the previous quarter, Wall Street now forecasts 7.69 % negative EPS growth.

NovoCure Limited (NASDAQ:NVCR) Ratings Coverage

Among 5 analysts covering NovoCure (NASDAQ:NVCR), 3 have Buy rating, 1 Sell and 1 Hold. Therefore 60% are positive. NovoCure has $43 highest and $16 lowest target. $27.20’s average target is 28.91% above currents $21.1 stock price. NovoCure had 6 analyst reports since October 27, 2015 according to SRatingsIntel. The firm earned “Market Outperform” rating on Tuesday, October 27 by JMP Securities. The stock of NovoCure Limited (NASDAQ:NVCR) has “Underweight” rating given on Tuesday, January 19 by Barclays Capital. The stock of NovoCure Limited (NASDAQ:NVCR) has “Outperform” rating given on Tuesday, October 27 by Wedbush. JP Morgan initiated NovoCure Limited (NASDAQ:NVCR) rating on Tuesday, October 27. JP Morgan has “Overweight” rating and $29 target. On Friday, July 29 the stock rating was maintained by Wedbush with “Outperform”. Deutsche Bank initiated the stock with “Hold” rating in Wednesday, December 2 report.

More notable recent NovoCure Limited (NASDAQ:NVCR) news were published by: which released: “Novocure Ltd. stock surges nearly 50% after positive late-stage trial results …” on April 03, 2017, also with their article: “Novocure Ltd (NVCR) CEO Asaf Danziger Sold $7.5 million of Shares” published on January 16, 2018, published: “Here’s Why NovoCure Ltd. Is Skyrocketing Today” on April 03, 2017. More interesting news about NovoCure Limited (NASDAQ:NVCR) were released by: and their article: “Jim Cramer Gives His Opinion On Novocure, Barnes & Noble And PACCAR” published on October 23, 2017 as well as‘s news article titled: “NovoCure Reaches Analyst Target Price” with publication date: September 14, 2017.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our daily email newsletter.

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our FREE daily email newsletter: