NovoCure (NASDAQ:NVCR) Stock Price Up 10.5%

NovoCure Limited (NASDAQ:NVCR - Get Free Report) shares traded up 10.5% during mid-day trading on Thursday . The stock traded as high as $14.20 and last traded at $14.08. 942,230 shares were traded during trading, a decline of 29% from the average session volume of 1,325,369 shares. The stock had previously closed at $12.74.

Analyst Upgrades and Downgrades

A number of analysts recently commented on NVCR shares. JPMorgan Chase & Co. lifted their price objective on NovoCure from $15.00 to $17.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 19th. Wedbush reaffirmed a "neutral" rating and issued a $21.00 target price on shares of NovoCure in a research note on Thursday. Evercore ISI boosted their price target on shares of NovoCure from $14.00 to $15.00 and gave the stock an "in-line" rating in a research note on Friday, February 23rd. Piper Sandler reaffirmed an "overweight" rating and issued a $28.00 price objective (up from $25.00) on shares of NovoCure in a research note on Wednesday, April 10th. Finally, HC Wainwright lowered their target price on shares of NovoCure from $24.00 to $22.00 and set a "neutral" rating for the company in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $30.88.

NovoCure Price Performance

The company's 50 day simple moving average is $14.23 and its 200 day simple moving average is $13.87. The stock has a market cap of $1.53 billion, a P/E ratio of -7.22 and a beta of 0.50. The company has a debt-to-equity ratio of 1.57, a current ratio of 5.78 and a quick ratio of 5.56.

NovoCure (NASDAQ:NVCR - Get Free Report) last released its quarterly earnings data 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 business had revenue of $133.80 million during the quarter, compared to analysts' expectations of $133.80 million. During the same quarter in the prior year, the company earned ($0.36) EPS. The firm's quarterly revenue was up 4.2% on a year-over-year basis. As a group, equities analysts forecast that NovoCure Limited will post -1.78 earnings per share for the current year.

Insider Activity

In related news, EVP Frank X. Leonard sold 1,679 shares of the stock in a transaction that occurred 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 completion of 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 document filed with the SEC, which is available through the SEC website. In other news, EVP Frank X. Leonard sold 2,078 shares of the business's stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $16.14, for a total value of $33,538.92. Following the sale, 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 filing with the SEC, which is accessible through the SEC website. Also, EVP Frank X. Leonard sold 1,679 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $26,914.37. Following the transaction, the executive vice president now owns 160,938 shares of the company's stock, valued at $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 90 days. Corporate insiders own 5.67% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in NovoCure by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 9,759,098 shares of the medical equipment provider's stock valued at $145,703,000 after purchasing an additional 122,105 shares during the last quarter. Norges Bank acquired a new position in NovoCure in the 4th quarter valued at $14,543,000. Palo Alto Investors LP lifted its position in shares of NovoCure by 14.2% during the 3rd quarter. Palo Alto Investors LP now owns 660,275 shares of the medical equipment provider's stock valued at $10,663,000 after acquiring an additional 82,157 shares during the period. Federated Hermes Inc. grew its holdings in shares of NovoCure by 807.8% during the 4th quarter. Federated Hermes Inc. now owns 616,792 shares of the medical equipment provider's stock worth $9,209,000 after purchasing an additional 548,852 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of NovoCure by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 551,775 shares of the medical equipment provider's stock worth $8,238,000 after purchasing an additional 10,510 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.