NovoCure (NASDAQ:NVCR) Sees Unusually-High Trading Volume - What's Next?

NovoCure Limited (NASDAQ:NVCR - Get Free Report) shares saw strong trading volume on Tuesday . 3,162,298 shares traded hands during mid-day trading, an increase of 175% from the previous session's volume of 1,151,617 shares.The stock last traded at $17.02 and had previously closed at $17.04.

Analysts Set New Price Targets

NVCR has been the subject of a number of research analyst reports. Wedbush cut their price target on NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Wall Street Zen lowered shares of NovoCure from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. reduced their price target on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Finally, Piper Sandler decreased their price target on shares of NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, NovoCure has an average rating of "Hold" and a consensus price target of $32.83.

NovoCure Trading Up 3.3%

The company's 50-day moving average is $17.36 and its 200-day moving average is $21.88. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -12.14 and a beta of 0.73.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced its earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.47) by $0.16. The company had revenue of $154.99 million for the quarter, compared to analyst estimates of $147.57 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. NovoCure's quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.36) earnings per share. On average, research analysts predict that NovoCure Limited will post -1.3 earnings per share for the current year.

Institutional Investors Weigh In On NovoCure

Several hedge funds and other institutional investors have recently made changes to their positions in NVCR. GeoWealth Management LLC acquired a new position in shares of NovoCure during the fourth quarter valued at $27,000. Lindbrook Capital LLC raised its holdings in NovoCure by 189.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider's stock worth $55,000 after purchasing an additional 1,213 shares during the last quarter. Blue Trust Inc. lifted its position in NovoCure by 70.7% during the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider's stock valued at $56,000 after purchasing an additional 781 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of NovoCure in the 4th quarter valued at about $68,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of NovoCure in the 4th quarter valued at about $70,000. 84.61% of the stock is owned by institutional investors and hedge funds.

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.