NovoCure Limited (NASDAQ:NVCR - Get Free Report) shares rose 4.8% on Thursday after HC Wainwright raised their price target on the stock from $22.00 to $24.00. HC Wainwright currently has a neutral rating on the stock. NovoCure traded as high as $15.36 and last traded at $15.35. Approximately 186,158 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,363,427 shares. The stock had previously closed at $14.64.
A number of other equities research analysts have also recently commented on NVCR. Evercore ISI increased their price target on NovoCure from $14.00 to $15.00 and gave the company an "in-line" rating in a research note on Friday, February 23rd. Wedbush reaffirmed a "neutral" rating and issued a $21.00 price objective on shares of NovoCure in a research report on Monday, January 8th. Finally, JPMorgan Chase & Co. boosted their target price 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. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $34.13.
View Our Latest Research Report on NovoCure
Insiders Place Their Bets
In other NovoCure news, EVP Frank X. Leonard sold 1,679 shares of the company's stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $26,914.37. Following the sale, the executive vice president now owns 160,938 shares in the company, valued at approximately $2,579,836.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Frank X. Leonard sold 1,679 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.03, for a total transaction of $26,914.37. Following the sale, the executive vice president now directly owns 160,938 shares of the company's stock, valued at approximately $2,579,836.14. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of the company's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $33,775.21. Following the completion of the transaction, the chief operating officer now directly owns 252,452 shares of the company's stock, valued at approximately $4,046,805.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,921 shares of company stock valued at $127,161. Company insiders own 5.67% of the company's stock.
Hedge Funds Weigh In On NovoCure
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UniSuper Management Pty Ltd acquired a new stake in NovoCure in the 2nd quarter worth about $29,000. Captrust Financial Advisors raised its stake in NovoCure by 47.0% in the 2nd quarter. Captrust Financial Advisors now owns 1,292 shares of the medical equipment provider's stock valued at $90,000 after purchasing an additional 413 shares during the last quarter. Lazard Asset Management LLC boosted its stake in NovoCure by 166.3% during the 1st quarter. Lazard Asset Management LLC now owns 1,350 shares of the medical equipment provider's stock worth $111,000 after purchasing an additional 843 shares during the last quarter. UMB Bank n.a. acquired a new stake in shares of NovoCure in the third quarter valued at about $26,000. Finally, EP Wealth Advisors LLC acquired a new position in NovoCure during the first quarter worth about $211,000. 84.61% of the stock is owned by hedge funds and other institutional investors.
NovoCure Stock Performance
The company has a market cap of $1.67 billion, a price-to-earnings ratio of -8.02 and a beta of 0.41. The stock's fifty day simple moving average is $14.95 and its 200 day simple moving average is $14.46. The company has a current ratio of 5.78, a quick ratio of 5.56 and a debt-to-equity ratio of 1.57.
NovoCure (NASDAQ:NVCR - Get Free Report) last issued its earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.45) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.53) by $0.08. The business had revenue of $133.80 million during the quarter, compared to the consensus estimate of $133.80 million. NovoCure had a negative return on equity of 51.63% and a negative net margin of 40.65%. The company's revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the company earned ($0.36) EPS. As a group, analysts anticipate that NovoCure Limited will post -1.73 earnings per share for the current year.
NovoCure Company Profile
(
Get Free Report)
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.
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