NovoCure (NASDAQ:NVCR) Share Price Crosses Above Fifty Day Moving Average - What's Next?

Key Points

• NovoCure shares moved above their 50-day moving average, reaching $16.99 before last trading at $16.72 on volume of about 1.48 million shares.
• Analyst sentiment remains cautious: the stock has an average rating of “Hold” and an average price target of $21.20, with ratings ranging from Sell to Buy.
• NovoCure’s latest quarterly results beat expectations, with an adjusted loss of $0.13 per share and revenue of $183.58 million, up 15.6% year over year; however, the company remains unprofitable.

NovoCure Limited (NASDAQ:NVCR - Get Free Report)'s stock price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $16.75 and traded as high as $16.99. NovoCure shares last traded at $16.72, with a volume of 1,482,613 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NVCR shares. Weiss Ratings restated a "sell (d-)" rating on shares of NovoCure in a report on Thursday, August 27th. JPMorgan Chase & Co. initiated coverage on shares of NovoCure in a report on Monday, July 13th. They issued a "neutral" rating and a $17.00 target price on the stock. Wedbush lifted their price target on shares of NovoCure from $18.00 to $20.00 and gave the stock a "neutral" rating in a research report on Friday, July 24th. HC Wainwright set a $32.00 price target on shares of NovoCure in a report on Friday, July 24th. Finally, Wall Street Zen cut shares of NovoCure from a "buy" rating to a "hold" rating in a research report on Saturday, August 29th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, NovoCure presently has an average rating of "Hold" and an average price target of $21.20.

NovoCure Price Performance

The company has a current ratio of 2.89, a quick ratio of 2.70 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average price of $16.75 and a two-hundred day moving average price of $15.31. The firm has a market cap of $1.95 billion, a P/E ratio of -12.86 and a beta of 1.01.

NovoCure (NASDAQ:NVCR - Get Free Report) last posted its earnings results on Thursday, July 23rd. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.33) by $0.20. NovoCure had a negative return on equity of 44.00% and a negative net margin of 21.25%.The business had revenue of $183.58 million during the quarter, compared to analysts' expectations of $172.44 million. During the same period in the prior year, the business earned ($0.36) EPS. NovoCure's revenue for the quarter was up 15.6% compared to the same quarter last year. Equities analysts anticipate that NovoCure Limited will post -1.21 earnings per share for the current year.

Institutional Investors Weigh In On NovoCure

A number of hedge funds and other institutional investors have recently made changes to their positions in NVCR. First Bancorp Inc ME acquired a new position in NovoCure in the 2nd quarter worth $38,000. Allworth Financial LP increased its holdings in NovoCure by 182.0% during the 2nd quarter. Allworth Financial LP now owns 2,721 shares of the medical equipment provider's stock worth $41,000 after purchasing an additional 1,756 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of NovoCure by 25.2% in the 4th quarter. Larson Financial Group LLC now owns 5,133 shares of the medical equipment provider's stock valued at $66,000 after purchasing an additional 1,033 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of NovoCure in the 2nd quarter valued at about $84,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of NovoCure in the 2nd quarter valued at about $162,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

NovoCure Company Profile

NovoCure Ltd. NASDAQ: NVCR is an oncology company that develops and commercializes Tumor Treating Fields (TTFields), a noninvasive therapy that uses low-intensity, intermediate-frequency electric fields to disrupt the division of cancer cells. The company's technology is designed to be used alongside other cancer treatments and is delivered through a portable device and transducer arrays placed on the patient's body.

NovoCure's principal commercial products include Optune Gio, used with other treatments for adults with certain forms of glioblastoma, and Optune Lua, approved in the United States for use with certain therapies in adults with unresectable, locally advanced or metastatic malignant pleural mesothelioma.

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