Brooklyn Investment Group Takes Position in NovoCure Limited (NASDAQ:NVCR)

Brooklyn Investment Group purchased a new stake in NovoCure Limited (NASDAQ:NVCR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,900 shares of the medical equipment provider’s stock, valued at approximately $45,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NVCR. Vanguard Group Inc. increased its stake in shares of NovoCure by 2.7% in the first quarter. Vanguard Group Inc. now owns 10,023,981 shares of the medical equipment provider’s stock valued at $156,675,000 after buying an additional 264,883 shares during the period. Tidal Investments LLC acquired a new stake in shares of NovoCure in the first quarter valued at about $695,000. Versant Capital Management Inc increased its stake in shares of NovoCure by 2,917.0% in the second quarter. Versant Capital Management Inc now owns 3,017 shares of the medical equipment provider’s stock valued at $52,000 after buying an additional 2,917 shares during the period. CWM LLC increased its stake in shares of NovoCure by 182.3% in the second quarter. CWM LLC now owns 5,281 shares of the medical equipment provider’s stock valued at $90,000 after buying an additional 3,410 shares during the period. Finally, AdvisorNet Financial Inc increased its stake in shares of NovoCure by 45.5% in the second quarter. AdvisorNet Financial Inc now owns 8,000 shares of the medical equipment provider’s stock valued at $137,000 after buying an additional 2,500 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of NovoCure in a research report on Thursday, November 21st. Evercore ISI cut their target price on NovoCure from $21.00 to $18.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $26.17.

NovoCure Stock Up 1.8 %

Shares of NASDAQ:NVCR opened at $20.04 on Friday. The business’s 50 day simple moving average is $16.65 and its two-hundred day simple moving average is $18.43. The firm has a market cap of $2.17 billion, a P/E ratio of -14.31 and a beta of 0.71. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. NovoCure Limited has a 52-week low of $11.66 and a 52-week high of $24.74.

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

NovoCure 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.