Adage Capital Partners GP L.L.C. Acquires Shares of 200,000 NovoCure Limited (NASDAQ:NVCR)

Adage Capital Partners GP L.L.C. acquired a new position in shares of NovoCure Limited (NASDAQ:NVCR - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 200,000 shares of the medical equipment provider's stock, valued at approximately $5,960,000. Adage Capital Partners GP L.L.C. owned about 0.18% of NovoCure as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. GeoWealth Management LLC purchased a new stake in shares of NovoCure during the 4th quarter valued at approximately $27,000. Lindbrook Capital LLC raised its position in NovoCure by 189.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider's stock valued at $55,000 after purchasing an additional 1,213 shares during the period. Blue Trust Inc. lifted its stake in shares of NovoCure by 70.7% in the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider's stock valued at $56,000 after purchasing an additional 781 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of NovoCure during the 4th quarter worth $70,000. Finally, Versant Capital Management Inc increased its position in shares of NovoCure by 35.8% during the 4th quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider's stock worth $100,000 after purchasing an additional 880 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NVCR shares. JPMorgan Chase & Co. lowered their target price on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Wedbush dropped their target price on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. HC Wainwright restated a "buy" rating and set a $38.00 price target on shares of NovoCure in a research note on Tuesday, January 14th. StockNews.com cut NovoCure from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Finally, Piper Sandler decreased their target price on NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $32.83.

NovoCure Stock Up 1.1 %

NASDAQ NVCR traded up $0.20 during trading hours on Friday, hitting $18.15. 728,550 shares of the company were exchanged, compared to its average volume of 1,178,144. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of -12.96 and a beta of 0.73. The company has a 50 day moving average of $18.14 and a two-hundred day moving average of $21.77. NovoCure Limited has a 52-week low of $14.17 and a 52-week high of $34.13.

NovoCure (NASDAQ:NVCR - Get Free Report) last released its earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share for the quarter, topping analysts' consensus estimates of ($0.47) by $0.16. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The firm had revenue of $154.99 million for the quarter, compared to analyst estimates of $147.57 million. During the same period in the prior year, the firm earned ($0.36) earnings per share. The business's quarterly revenue was up 11.9% compared to the same quarter last year. Equities research analysts anticipate that NovoCure Limited will post -1.3 earnings per share for the current year.

About NovoCure

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company's TTFields devices include Optune Gio and Optune Lua.