NovoCure (NASDAQ:NVCR) Shares Down 5.9%

NovoCure Limited (NASDAQ:NVCR) shares traded down 5.9% on Tuesday . The company traded as low as $22.63 and last traded at $22.63. 1,087,090 shares changed hands during trading, a decline of 19% from the average session volume of 1,348,504 shares. The stock had previously closed at $24.05.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NVCR shares. JPMorgan Chase & Co. raised their target price on NovoCure from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Wedbush reiterated a “neutral” rating and issued a $21.00 target price on shares of NovoCure in a research report on Thursday, May 2nd. Evercore ISI raised their price target on shares of NovoCure from $14.00 to $15.00 and gave the stock an “in-line” rating in a research report on Friday, February 23rd. Wells Fargo & Company decreased their price objective on shares of NovoCure from $49.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Finally, HC Wainwright cut their price objective on shares of NovoCure from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.88.

NovoCure Trading Down 5.9 %

The company’s 50-day moving average is $15.11 and its 200 day moving average is $14.37. The company has a market cap of $2.40 billion, a price-to-earnings ratio of -12.36 and a beta of 0.50. The company has a quick ratio of 5.99, a current ratio of 6.26 and a debt-to-equity ratio of 1.59.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.07. The firm had revenue of $138.50 million during the quarter, compared to analyst estimates of $131.44 million. NovoCure had a negative return on equity of 50.35% and a negative net margin of 36.67%. NovoCure’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.50) EPS. Research analysts predict that NovoCure Limited will post -1.64 EPS for the current year.

Insider Transactions at NovoCure

In other news, EVP Frank X. Leonard sold 1,679 shares of NovoCure stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.03, for a total value of $26,914.37. Following the sale, 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 SEC, which can be accessed through the SEC website. In other news, EVP Frank X. Leonard sold 1,679 shares of NovoCure stock in a transaction that occurred 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 sale, the executive vice president now directly owns 160,938 shares of the company’s stock, valued at $2,579,836.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Frank X. Leonard sold 2,078 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $16.14, for a total value of $33,538.92. Following the completion of the transaction, the executive vice president now directly owns 162,617 shares of the company’s stock, valued at $2,624,638.38. The disclosure for this sale can be found here. Insiders sold a total of 7,921 shares of company stock valued at $127,161 in the last three months. 6.29% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in shares of NovoCure by 278.0% in the first quarter. GAMMA Investing LLC now owns 2,880 shares of the medical equipment provider’s stock valued at $45,000 after buying an additional 2,118 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of NovoCure during the third quarter worth about $74,000. Daiwa Securities Group Inc. boosted its stake in shares of NovoCure by 1,113.7% in the first quarter. Daiwa Securities Group Inc. now owns 5,122 shares of the medical equipment provider’s stock valued at $80,000 after purchasing an additional 4,700 shares during the period. Acadian Asset Management LLC purchased a new position in shares of NovoCure in the third quarter valued at approximately $85,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of NovoCure by 36.0% in 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 purchasing an additional 1,461 shares in the last quarter. Institutional investors and hedge funds 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.