NovoCure (NASDAQ:NVCR) Shares Down 4.7% – Should You Sell?

NovoCure Limited (NASDAQ:NVCR)’s stock price fell 4.7% during trading on Tuesday . The company traded as low as $17.90 and last traded at $17.90. 45,194 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 1,273,558 shares. The stock had previously closed at $18.78.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NVCR. Evercore ISI reduced their price target on shares of NovoCure from $21.00 to $18.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of NovoCure in a research report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, NovoCure currently has an average rating of “Moderate Buy” and an average target price of $26.17.

NovoCure Price Performance

The stock’s 50-day moving average price is $16.56 and its 200-day moving average price is $18.40. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of -14.06 and a beta of 0.71. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.06. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The business had revenue of $155.10 million for the quarter, compared to analyst estimates of $143.95 million. During the same period in the prior year, the business posted ($0.46) earnings per share. NovoCure’s revenue was up 21.8% compared to the same quarter last year. Equities research analysts anticipate that NovoCure Limited will post -1.31 earnings per share for the current year.

Hedge Funds Weigh In On NovoCure

Large investors have recently bought and sold shares of the business. Ridgewood Investments LLC acquired a new position in NovoCure in the second quarter valued at approximately $28,000. Signaturefd LLC lifted its holdings in NovoCure by 61.7% in the second quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 627 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in NovoCure in the second quarter valued at approximately $34,000. Fifth Third Bancorp acquired a new position in NovoCure in the second quarter valued at approximately $43,000. Finally, Nisa Investment Advisors LLC acquired a new stake in NovoCure in the second quarter worth $48,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.