NovoCure Limited (NASDAQ:NVCR) was the target of unusually large options trading on Tuesday. Stock traders purchased 13,031 put options on the stock. This is an increase of approximately 7,520% compared to the typical volume of 171 put options.
Shares of NVCR traded down $7.55 during trading on Wednesday, reaching $189.78. The company's stock had a trading volume of 43,717 shares, compared to its average volume of 944,770. The company has a fifty day moving average of $138.19 and a two-hundred day moving average of $146.40. NovoCure has a twelve month low of $55.40 and a twelve month high of $218.09. The company has a market cap of $19.44 billion, a price-to-earnings ratio of 986.95 and a beta of 1.29.
NovoCure (NASDAQ:NVCR) last issued its quarterly earnings data on Thursday, February 25th. The medical equipment provider reported $0.04 EPS for the quarter, missing the Zacks' consensus estimate of $0.13 by ($0.09). The company had revenue of $144.00 million for the quarter, compared to the consensus estimate of $143.49 million. NovoCure had a return on equity of 7.40% and a net margin of 4.26%. NovoCure's quarterly revenue was up 45.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.04 earnings per share. On average, analysts anticipate that NovoCure will post 0.23 earnings per share for the current fiscal year.
NVCR has been the subject of a number of research reports. Truist boosted their target price on NovoCure from $118.00 to $132.00 in a report on Friday, January 29th. Wells Fargo & Company boosted their target price on NovoCure from $135.00 to $215.00 and gave the stock an "equal weight" rating in a report on Tuesday. Northland Securities boosted their target price on NovoCure from $200.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday. Zacks Investment Research upgraded NovoCure from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Piper Sandler boosted their price target on NovoCure from $140.00 to $225.00 and gave the stock an "overweight" rating in a research report on Monday, January 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. NovoCure currently has an average rating of "Hold" and a consensus target price of $173.25.
In related news, General Counsel Todd Christopher Longsworth sold 63,814 shares of NovoCure stock in a transaction dated Friday, January 15th. The stock was sold at an average price of $172.48, for a total transaction of $11,006,638.72. Following the completion of the sale, the general counsel now owns 123,474 shares in the company, valued at approximately $21,296,795.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman William F. Doyle sold 7,928 shares of NovoCure stock in a transaction dated Thursday, April 1st. The stock was sold at an average price of $134.12, for a total value of $1,063,303.36. Following the sale, the chairman now owns 658,321 shares of the company's stock, valued at approximately $88,294,012.52. The disclosure for this sale can be found here. Insiders have sold a total of 75,412 shares of company stock valued at $12,334,989 in the last ninety days. Corporate insiders own 5.07% of the company's stock.
Institutional investors have recently made changes to their positions in the stock. Sterling Financial Planning Inc. purchased a new stake in NovoCure in the 4th quarter worth about $26,000. RWM Asset Management LLC purchased a new stake in NovoCure in the 4th quarter worth about $35,000. NEXT Financial Group Inc purchased a new stake in NovoCure in the 4th quarter worth about $35,000. Perigon Wealth Management LLC acquired a new position in NovoCure in the 4th quarter worth about $46,000. Finally, Regent Peak Wealth Advisors LLC acquired a new position in NovoCure in the 4th quarter worth about $58,000. 71.09% of the stock is owned by hedge funds and other institutional investors.
NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of Optune for the treatment of a variety of solid tumors. The company markets Optune and Optune Lua, a Tumor Treating Fields delivery system for use as a monotherapy treatment for adult patients with glioblastoma.
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