NovoCure (NASDAQ:NVCR) Trading Down 6.6%

NovoCure Limited (NASDAQ:NVCR - Get Free Report)'s stock price was down 6.6% during trading on Tuesday . The stock traded as low as $14.41 and last traded at $14.46. Approximately 323,085 shares were traded during trading, a decline of 77% from the average daily volume of 1,393,332 shares. The stock had previously closed at $15.49.

Analyst Ratings Changes

Several equities research analysts recently commented on NVCR shares. Wedbush reiterated a "neutral" rating and set a $21.00 target price on shares of NovoCure in a research report on Wednesday, March 27th. JPMorgan Chase & Co. lifted 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. Evercore ISI lifted their target price on shares of NovoCure from $14.00 to $15.00 and gave the stock an "in-line" rating in a research report on Friday, February 23rd. Finally, HC Wainwright raised their price target on shares of NovoCure from $22.00 to $24.00 and gave the stock a "neutral" rating in a report on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.13.

NovoCure Trading Down 7.1 %

The company has a debt-to-equity ratio of 1.57, a quick ratio of 5.56 and a current ratio of 5.78. The firm's fifty day simple moving average is $15.02 and its 200-day simple moving average is $14.33. The stock has a market cap of $1.54 billion, a P/E ratio of -7.38 and a beta of 0.42.

NovoCure (NASDAQ:NVCR - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The medical equipment provider reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.08. The company had revenue of $133.80 million during the quarter, compared to analyst estimates of $133.80 million. NovoCure had a negative net margin of 40.65% and a negative return on equity of 51.63%. NovoCure's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.36) EPS. Equities research analysts expect that NovoCure Limited will post -1.73 EPS for the current fiscal year.

Insider Activity

In other news, COO Wilhelmus Cm Groenhuysen sold 2,107 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 value of $33,775.21. Following the completion of the sale, the chief operating officer now owns 252,452 shares in the company, valued at approximately $4,046,805.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NovoCure news, EVP Frank X. Leonard sold 1,679 shares of the business's 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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of the business's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $16.03, for a total transaction of $33,775.21. Following the sale, the chief operating officer now 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. Insiders sold 7,921 shares of company stock worth $127,161 in the last quarter. 5.67% of the stock is owned by corporate insiders.

Institutional Trading of NovoCure

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. increased its stake in NovoCure by 3.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,222 shares of the medical equipment provider's stock valued at $314,000 after purchasing an additional 165 shares in the last quarter. Baird Financial Group Inc. increased its stake in NovoCure by 1.5% during the 4th quarter. Baird Financial Group Inc. now owns 16,061 shares of the medical equipment provider's stock valued at $1,179,000 after purchasing an additional 230 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in NovoCure by 1.3% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 23,400 shares of the medical equipment provider's stock valued at $1,716,000 after purchasing an additional 300 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in NovoCure by 0.8% during the 4th quarter. Alliancebernstein L.P. now owns 44,523 shares of the medical equipment provider's stock worth $3,266,000 after acquiring an additional 355 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in NovoCure by 47.0% during the 2nd quarter. Captrust Financial Advisors now owns 1,292 shares of the medical equipment provider's stock worth $90,000 after acquiring an additional 413 shares during the last quarter. 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.