NovoCure (NASDAQ:NVCR) Sets New 52-Week Low - What's Next?

NovoCure Limited (NASDAQ:NVCR - Get Free Report)'s share price reached a new 52-week low during trading 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.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NVCR. Wall Street Zen downgraded NovoCure from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $14.50 target price (down from $40.00) on shares of NovoCure in a report on Friday. LADENBURG THALM/SH SH started coverage on shares of NovoCure in a research note on Tuesday, July 8th. They issued a "buy" rating and a $30.00 target price on the stock. Wedbush lowered their price target on NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. dropped their target price on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $28.79.

NovoCure Price Performance

The company has a current ratio of 1.45, a quick ratio of 1.39 and a debt-to-equity ratio of 0.28. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -7.46 and a beta of 0.72. The stock has a 50-day moving average price of $17.29 and a two-hundred day moving average price of $19.18.

NovoCure (NASDAQ:NVCR - Get Free Report) last posted its earnings results on Thursday, July 24th. The medical equipment provider reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.03. NovoCure had a negative net margin of 27.13% and a negative return on equity of 47.74%. The firm had revenue of $158.80 million during the quarter, compared to analysts' expectations of $153.87 million. During the same period in the previous year, the business posted ($0.31) EPS. The business's revenue was up 5.6% compared to the same quarter last year. As a group, equities research analysts forecast that NovoCure Limited will post -1.3 EPS for the current year.

Institutional Investors Weigh In On NovoCure

A number of hedge funds have recently bought and sold shares of the stock. Capital International Investors increased its stake in NovoCure by 12.0% in the fourth quarter. Capital International Investors now owns 8,873,902 shares of the medical equipment provider's stock valued at $264,442,000 after purchasing an additional 951,141 shares during the last quarter. Capital World Investors grew its position in shares of NovoCure by 11.8% in the 4th quarter. Capital World Investors now owns 4,815,529 shares of the medical equipment provider's stock valued at $143,503,000 after buying an additional 507,311 shares during the last quarter. Soleus Capital Management L.P. acquired a new stake in NovoCure during the 4th quarter worth $81,643,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in NovoCure by 154.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,782,159 shares of the medical equipment provider's stock valued at $31,758,000 after acquiring an additional 1,080,514 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in NovoCure by 39.1% in the fourth quarter. Northern Trust Corp now owns 1,284,350 shares of the medical equipment provider's stock valued at $38,274,000 after acquiring an additional 360,841 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.