NovoCure (NASDAQ:NVCR) Trading Up 4.9%

NovoCure Limited (NASDAQ:NVCR - Get Free Report) was up 4.9% on Tuesday . The stock traded as high as $14.87 and last traded at $14.87. Approximately 43,712 shares changed hands during trading, a decline of 97% from the average daily volume of 1,382,976 shares. The stock had previously closed at $14.18.

Analysts Set New Price Targets

Several analysts have issued reports on the company. HC Wainwright boosted their target price on NovoCure from $22.00 to $24.00 and gave the company a "neutral" rating in a research note on Wednesday, March 27th. JPMorgan Chase & Co. boosted their price objective on NovoCure from $15.00 to $17.00 and gave the company a "neutral" rating in a research note on Tuesday, March 19th. Wells Fargo & Company cut their target price on shares of NovoCure from $49.00 to $42.00 and set an "overweight" rating for the company in a research report on Wednesday, April 3rd. Evercore ISI boosted their price target on shares of NovoCure from $14.00 to $15.00 and gave the company an "in-line" rating in a research report on Friday, February 23rd. Finally, Wedbush reaffirmed a "neutral" rating and issued a $21.00 price objective on shares of NovoCure in a report on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $33.25.

NovoCure Trading Up 4.9 %

The firm's 50 day moving average is $15.01 and its 200 day moving average is $14.18. The company has a debt-to-equity ratio of 1.57, a current ratio of 5.78 and a quick ratio of 5.56. The company has a market cap of $1.59 billion, a PE ratio of -7.74 and a beta of 0.42.

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On NovoCure

Hedge funds and other institutional investors have recently modified their holdings of the company. UMB Bank n.a. bought a new stake in NovoCure in the 3rd quarter worth approximately $26,000. UniSuper Management Pty Ltd bought a new stake in shares of NovoCure in the 2nd quarter worth approximately $29,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of NovoCure by 96.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,739 shares of the medical equipment provider's stock valued at $44,000 after purchasing an additional 1,347 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of NovoCure by 278.0% during the 1st quarter. GAMMA Investing LLC now owns 2,880 shares of the medical equipment provider's stock valued at $45,000 after purchasing an additional 2,118 shares during the last quarter. Finally, US Bancorp DE raised its position in NovoCure by 46.1% in the 4th quarter. US Bancorp DE now owns 3,737 shares of the medical equipment provider's stock worth $56,000 after purchasing an additional 1,179 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

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.