NovoCure (NASDAQ:NVCR) Stock Price Up 10.5%

NovoCure Limited (NASDAQ:NVCR)’s share price rose 10.5% during trading on Thursday . The stock traded as high as $14.20 and last traded at $14.08. Approximately 942,230 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 1,325,369 shares. The stock had previously closed at $12.74.

Analyst Ratings Changes

A number of research analysts have recently weighed in on NVCR shares. Evercore ISI raised their target price on NovoCure from $14.00 to $15.00 and gave the company an “in-line” rating in a report on Friday, February 23rd. Wedbush restated a “neutral” rating and set a $21.00 price objective on shares of NovoCure in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of NovoCure from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. Wells Fargo & Company lowered their target price on shares of NovoCure from $49.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Finally, Piper Sandler reissued an “overweight” rating and set a $28.00 price target (up from $25.00) on shares of NovoCure in a research report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $30.88.

NovoCure Stock Up 11.4 %

The company has a market capitalization of $1.53 billion, a PE ratio of -7.22 and a beta of 0.50. The stock’s fifty day moving average is $14.23 and its two-hundred day moving average is $13.87. The company has a current ratio of 5.78, a quick ratio of 5.56 and a debt-to-equity ratio of 1.57.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, February 22nd. The medical equipment provider reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.08. NovoCure had a negative net margin of 40.65% and a negative return on equity of 51.63%. The business had revenue of $133.80 million for the quarter, compared to analyst estimates of $133.80 million. During the same quarter in the previous year, the firm posted ($0.36) earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, analysts predict that NovoCure Limited will post -1.78 EPS for the current year.

Insider Activity at NovoCure

In other NovoCure news, EVP Frank X. Leonard sold 1,679 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $26,914.37. Following the completion of the sale, the executive vice president now directly owns 160,938 shares of the company’s stock, valued at $2,579,836.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other NovoCure news, EVP Frank X. Leonard sold 1,679 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 160,938 shares in the company, valued at $2,579,836.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 252,452 shares in the company, valued at approximately $4,046,805.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,921 shares of company stock worth $127,161. Insiders own 5.67% of the company’s stock.

Institutional Investors Weigh In On NovoCure

Several institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp grew its position in shares of NovoCure by 6.8% in the third quarter. Van ECK Associates Corp now owns 15,073 shares of the medical equipment provider’s stock valued at $243,000 after purchasing an additional 959 shares in the last quarter. Amalgamated Bank boosted its stake in NovoCure by 4.7% in the 3rd quarter. Amalgamated Bank now owns 23,847 shares of the medical equipment provider’s stock worth $385,000 after purchasing an additional 1,072 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in NovoCure by 96.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,739 shares of the medical equipment provider’s stock valued at $44,000 after buying an additional 1,347 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of NovoCure by 36.0% during the third quarter. PNC Financial Services Group Inc. now owns 5,522 shares of the medical equipment provider’s stock valued at $89,000 after buying an additional 1,461 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of NovoCure by 6.3% in the third quarter. Principal Financial Group Inc. now owns 26,092 shares of the medical equipment provider’s stock worth $421,000 after buying an additional 1,539 shares in the last quarter. Hedge funds and other 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.