NovoCure (NASDAQ:NVCR) Sets New 52-Week Low - Here's Why

Shares of NovoCure Limited (NASDAQ:NVCR - Get Free Report) reached a new 52-week low on Thursday . The stock traded as low as $13.38 and last traded at $13.69, with a volume of 1608276 shares. The stock had previously closed at $16.51.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wall Street Zen lowered NovoCure from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Wedbush dropped their price target on NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price target on NovoCure from $29.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Piper Sandler reissued an "overweight" rating and set a $34.00 price target on shares of NovoCure in a research note on Friday, June 27th. Finally, LADENBURG THALM/SH SH began coverage on NovoCure in a research note on Tuesday, July 8th. They set a "buy" rating and a $30.00 price target for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.43.

NovoCure Price Performance

The firm has a market capitalization of $1.40 billion, a P/E ratio of -8.29 and a beta of 0.72. The firm has a 50 day moving average price of $17.51 and a 200-day moving average price of $19.55. The company has a current ratio of 1.47, a quick ratio of 1.41 and a debt-to-equity ratio of 0.27.

NovoCure (NASDAQ:NVCR - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The medical equipment provider reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.03. NovoCure had a negative return on equity of 45.46% and a negative net margin of 26.41%. During the same period in the prior year, the business earned ($0.31) EPS. The business's revenue for the quarter was up 5.6% on a year-over-year basis. On average, analysts expect 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 modified their holdings of NVCR. Raymond James Financial Inc. purchased a new stake in shares of NovoCure in the fourth quarter worth approximately $348,000. Xponance Inc. purchased a new stake in shares of NovoCure in the fourth quarter worth approximately $231,000. Teacher Retirement System of Texas purchased a new stake in shares of NovoCure in the fourth quarter worth approximately $1,766,000. KLP Kapitalforvaltning AS purchased a new position in NovoCure during the 4th quarter worth $644,000. Finally, LPL Financial LLC purchased a new position in NovoCure during the 4th quarter worth $830,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

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.

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