Novocure (NASDAQ:NVCR) Trading 6.8% Higher

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Novocure Ltd (NASDAQ:NVCR)’s share price traded up 6.8% during trading on Tuesday . The stock traded as high as $61.46 and last traded at $60.92, 1,293,021 shares changed hands during mid-day trading. An increase of 23% from the average session volume of 1,047,150 shares. The stock had previously closed at $57.05.

Several equities analysts have commented on the company. Zacks Investment Research raised Novocure from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a report on Thursday, March 19th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Novocure in a report on Tuesday, January 14th. Wells Fargo & Co raised Novocure from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $85.00 to $90.00 in a report on Thursday, March 5th. They noted that the move was a valuation call. Mizuho reaffirmed a “buy” rating and issued a $91.00 price target on shares of Novocure in a report on Friday, February 28th. Finally, BidaskClub cut Novocure from a “hold” rating to a “sell” rating in a report on Wednesday, March 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $84.50.

The firm has a fifty day simple moving average of $77.25 and a 200 day simple moving average of $80.61. The company has a current ratio of 5.10, a quick ratio of 4.82 and a debt-to-equity ratio of 0.75. The stock has a market cap of $5.68 billion, a price-to-earnings ratio of -779.13 and a beta of 2.27.

Novocure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, February 27th. The medical equipment provider reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. Novocure had a negative return on equity of 4.17% and a negative net margin of 2.06%. The company had revenue of $99.23 million for the quarter, compared to analyst estimates of $99.10 million. During the same period in the prior year, the company posted ($0.17) EPS. The company’s revenue was up 42.4% compared to the same quarter last year. On average, equities analysts expect that Novocure Ltd will post 0.47 earnings per share for the current year.

In related news, CFO Wilhelmus Cm Groenhuysen sold 2,915 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $98.14, for a total transaction of $286,078.10. Following the sale, the chief financial officer now directly owns 88,858 shares in the company, valued at approximately $8,720,524.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman William F. Doyle sold 133,777 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $95.00, for a total value of $12,708,815.00. Following the sale, the chairman now owns 509,465 shares in the company, valued at $48,399,175. The disclosure for this sale can be found here. Over the last quarter, insiders sold 180,796 shares of company stock worth $16,574,374. Corporate insiders own 5.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVCR. Norges Bank bought a new stake in Novocure during the 4th quarter worth approximately $65,536,000. Capital International Investors grew its position in Novocure by 113.7% during the 4th quarter. Capital International Investors now owns 1,380,675 shares of the medical equipment provider’s stock worth $116,349,000 after acquiring an additional 734,475 shares during the last quarter. Invus Financial Advisors LLC bought a new stake in Novocure during the 4th quarter worth approximately $39,681,000. Voya Investment Management LLC grew its position in Novocure by 993.6% during the 3rd quarter. Voya Investment Management LLC now owns 365,537 shares of the medical equipment provider’s stock worth $27,335,000 after acquiring an additional 332,111 shares during the last quarter. Finally, FMR LLC grew its position in Novocure by 2.3% during the 4th quarter. FMR LLC now owns 12,179,429 shares of the medical equipment provider’s stock worth $1,026,360,000 after acquiring an additional 274,398 shares during the last quarter. Institutional investors and hedge funds own 69.47% of the company’s stock.

Novocure Company Profile (NASDAQ:NVCR)

Novocure Ltd. is global oncology company, which engages in the development and commercialization of its innovative therapy. It focuses on the commercial adoption of Optune, and its Tumor Treating Fields delivery system, for the treatment of glioblastoma (GBM), and to advance programs testing the efficacy and safety of Optune in multiple solid tumor indications through clinical pipeline.

See Also: Golden Cross

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