Wedbush reiterated their outperform rating on shares of NovoCure Limited (NASDAQ:NVCR) in a report released on Friday, October 27th. They currently have a $25.00 price objective on the medical equipment provider’s stock, down from their previous price objective of $29.00.
A number of other equities analysts have also weighed in on the company. BidaskClub upgraded NovoCure Limited from a buy rating to a strong-buy rating in a research report on Monday, July 31st. Mizuho began coverage on NovoCure Limited in a research report on Wednesday, September 6th. They issued a buy rating and a $25.00 target price on the stock. Deutsche Bank AG reiterated a hold rating and issued a $19.00 target price (up from $18.00) on shares of NovoCure Limited in a research report on Monday, July 17th. Finally, Zacks Investment Research downgraded NovoCure Limited from a buy rating to a hold rating in a research report on Tuesday, August 1st. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. NovoCure Limited currently has an average rating of Buy and an average price target of $21.00.
NovoCure Limited (NASDAQ:NVCR) traded down $1.05 during mid-day trading on Friday, hitting $17.30. The stock had a trading volume of 1,331,300 shares, compared to its average volume of 853,971. The company has a debt-to-equity ratio of 0.83, a current ratio of 5.90 and a quick ratio of 5.30. NovoCure Limited has a 52-week low of $6.00 and a 52-week high of $22.30.
NovoCure Limited (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.07. The business had revenue of $50.10 million during the quarter, compared to analyst estimates of $43.45 million. NovoCure Limited had a negative return on equity of 57.68% and a negative net margin of 47.45%. NovoCure Limited’s revenue for the quarter was up 130.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.39) earnings per share. research analysts anticipate that NovoCure Limited will post -0.63 EPS for the current fiscal year.
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In related news, CEO Asaf Danziger sold 37,272 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $22.01, for a total value of $820,356.72. Following the completion of the transaction, the chief executive officer now owns 776,862 shares in the company, valued at approximately $17,098,732.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eilon D. Kirson sold 22,269 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $22.01, for a total value of $490,140.69. Following the completion of the transaction, the insider now owns 63,120 shares of the company’s stock, valued at approximately $1,389,271.20. The disclosure for this sale can be found here. Insiders have sold a total of 239,953 shares of company stock worth $5,217,363 in the last ninety days. Insiders own 16.70% of the company’s stock.
Several large investors have recently bought and sold shares of NVCR. Bank of Montreal Can grew its position in shares of NovoCure Limited by 1,919.7% during the 2nd quarter. Bank of Montreal Can now owns 7,069 shares of the medical equipment provider’s stock valued at $122,000 after acquiring an additional 6,719 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in NovoCure Limited by 792.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,229 shares of the medical equipment provider’s stock worth $125,000 after buying an additional 6,419 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in NovoCure Limited in the 2nd quarter worth about $126,000. Trexquant Investment LP acquired a new stake in NovoCure Limited in the 3rd quarter worth about $212,000. Finally, Fox Run Management L.L.C. acquired a new stake in NovoCure Limited in the 2nd quarter worth about $225,000. Hedge funds and other institutional investors own 36.21% of the company’s stock.
NovoCure Limited Company Profile
NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.
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