NovoCure Limited (NASDAQ:NVCR – Get Rating) insider Frank X. Leonard sold 6,754 shares of the company’s shares in a transaction that took place on Thursday, October 13th. The stock sold at an average price of $76.01 for a total value of $513,371.54. Upon completion of the sale, the insider now owns 43,626 shares of the company’s stock valued at approximately $3,316,012.26. The transaction was disclosed in a filing with the SEC, which is available through the SEC’s website.
NovoCure trade up 0.9%
Shares of NovoCure rose $0.66 during trading hours on Monday to hit $73.79. 518,068 shares of the Company were exchanged compared to an average volume of 610,390. NovoCure Limited has a 52-week low of $56.39 and a 52-week high of $124.35. The company has a market cap of $7.73 billion, a price-to-earnings ratio of -113.38 and a beta of 0.82. The company has a 50-day moving average of $81.04 and a 200-day moving average of $76.94. The company has a current ratio of 8.08, a quick ratio of 7.87 and a debt to equity ratio of 1.28.
NovoCure (NASDAQ:NVCR – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The medical equipment maker reported earnings per share of ($0.23) for the quarter, missing analyst consensus estimates of ($0.14) by ($0.09). NovoCure had a negative return on equity of 16.04% and a negative net margin of 12.52%. The company had revenue of $140.90 million for the quarter, compared to analysts’ expectations of $135.13 million. For the same period last year, the company generated ($0.14) EPS. The company’s revenue for the quarter increased 5.5% compared to the same quarter last year. Sell-side analysts are forecasting that NovoCure Limited will post -0.89 EPS for the current fiscal year.
Analyst upgrades and downgrades
A number of equities research analysts have recently issued reports on NVCR stocks. Piper Sandler lowered her price target on NovoCure from $100.00 to $90.00 in a research note on Thursday, July 28. Evercore ISI lowered NovoCure from an “inline” rating to an “underperform” rating and set a price target of $55.00 for the stock. in a research note on Tuesday, July 5. Finally, on Wednesday, October 12th, StockNews.com began reporting on NovoCure in a research note. They gave the stock a “hold” rating. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, NovoCure currently has an average rating of “Moderate Buy” and an average price target of $107.57.
Institutional inflows and outflows
A number of major investors have recently changed their positions in the business. American Trust purchased a new position in NovoCure stock worth $223,000 during the fourth quarter. The Maryland State Retirement & Pension System acquired a new position in NovoCure stock valued at $639,000 during the first quarter. Frontier Capital Management Co. LLC increased its position in NovoCure shares by 16.4% during the first quarter. Frontier Capital Management Co. LLC now owns 504,354 shares of the medical device company valued at $41,786,000 after purchasing an additional 71,070 shares during the period. Xponance Inc. increased its position in NovoCure shares by 1.2% in the first quarter. Xponance Inc. now owns 11,639 shares of the medical device maker, valued at $964,000, after purchasing an additional 133 shares during the period. Finally, CWM LLC increased its position in NovoCure shares by 30.9% during the first quarter. CWM LLC now owns 1,616 shares of the medical device maker valued at $134,000 after purchasing an additional 381 shares during the period. Hedge funds and other institutional investors own 76.45% of the company’s shares.
NovoCure Company Profile
(get rating)
NovoCure Limited, an oncology company, is engaged in the development, manufacture and marketing of TTFields (Tumor Treating Fields) devices for the treatment of solid tumors in the United States, Europe, the Middle East, Africa, Japan and Greater China. Its TTFields devices include Optune for the treatment of glioblastoma; and Optune Lua for the treatment of malignant pleural mesothelioma.
Further reading
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