NovoCure (NASDAQ:NVCR) Stock Crosses Below 50 Day Moving Average of $14.57

NovoCure Limited (NASDAQ:NVCR - Get Free Report) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $14.57 and traded as low as $12.02. NovoCure shares last traded at $12.34, with a volume of 1,315,526 shares traded.

Wall Street Analyst Weigh In

Several analysts have issued reports on NVCR shares. JPMorgan Chase & Co. upped their price target on shares of NovoCure from $15.00 to $17.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 19th. Piper Sandler reiterated an "overweight" rating and issued a $28.00 target price (up from $25.00) on shares of NovoCure in a research note on Wednesday, April 10th. Wedbush reissued a "neutral" rating and set a $21.00 price target on shares of NovoCure in a research report on Wednesday, March 27th. HC Wainwright upped their price objective on NovoCure from $22.00 to $24.00 and gave the company a "neutral" rating in a research note on Wednesday, March 27th. Finally, Wells Fargo & Company reduced their target price on NovoCure from $49.00 to $42.00 and set an "overweight" rating for the company in a research note on Wednesday, April 3rd. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, NovoCure currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.13.

NovoCure Stock Down 0.9 %

The company has a current ratio of 5.78, a quick ratio of 5.56 and a debt-to-equity ratio of 1.57. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -6.27 and a beta of 0.42. The firm's 50-day moving average price is $14.57 and its 200 day moving average price is $13.94.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The medical equipment provider reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.08. NovoCure had a negative return on equity of 51.63% and a negative net margin of 40.65%. The business had revenue of $133.80 million during the quarter, compared to the consensus estimate of $133.80 million. During the same period in the prior year, the company earned ($0.36) EPS. NovoCure's revenue for the quarter was up 4.2% on a year-over-year basis. On average, sell-side analysts forecast that NovoCure Limited will post -1.78 EPS for the current fiscal year.

Insider Activity

In related news, EVP Frank X. Leonard sold 1,679 shares of NovoCure stock in a transaction on Friday, March 1st. The shares were sold at an average price of $16.03, for a total transaction of $26,914.37. Following the completion of the transaction, the executive vice president now owns 160,938 shares of the company's stock, valued at $2,579,836.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other NovoCure news, EVP Frank X. Leonard sold 2,078 shares of the business's stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $16.14, for a total transaction of $33,538.92. Following the completion of the sale, the executive vice president now owns 162,617 shares in the company, valued at approximately $2,624,638.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Frank X. Leonard sold 1,679 shares of the company's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $16.03, for a total transaction of $26,914.37. Following the transaction, the executive vice president now owns 160,938 shares in the company, valued at approximately $2,579,836.14. The disclosure for this sale can be found here. Insiders sold 7,921 shares of company stock valued at $127,161 over the last quarter. 5.67% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Norges Bank bought a new position in shares of NovoCure in the fourth quarter valued at approximately $14,543,000. Federated Hermes Inc. boosted its holdings in shares of NovoCure by 807.8% in the 4th quarter. Federated Hermes Inc. now owns 616,792 shares of the medical equipment provider's stock worth $9,209,000 after buying an additional 548,852 shares during the last quarter. Invenomic Capital Management LP bought a new position in NovoCure during the fourth quarter valued at about $6,479,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in NovoCure by 490.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 408,839 shares of the medical equipment provider's stock worth $6,603,000 after buying an additional 339,610 shares during the last quarter. Finally, C WorldWide Group Holding A S raised its position in NovoCure by 135.3% in the fourth quarter. C WorldWide Group Holding A S now owns 521,784 shares of the medical equipment provider's stock worth $7,790,000 after acquiring an additional 300,000 shares during the period. Institutional investors own 84.61% of the company's stock.

NovoCure Company Profile

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.