Stock Traders Buy Large Volume of Call Options on NovoCure (NASDAQ:NVCR)

NovoCure Limited (NASDAQ:NVCR) was the recipient of unusually large options trading on Monday. Investors bought 4,528 call options on the stock. This is an increase of 252% compared to the typical daily volume of 1,285 call options.

NovoCure Stock Performance

NASDAQ NVCR opened at $29.85 on Tuesday. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The company has a fifty day simple moving average of $16.91 and a 200 day simple moving average of $18.45. NovoCure has a 12-month low of $11.66 and a 12-month high of $31.57. The company has a market cap of $3.23 billion, a P/E ratio of -21.32 and a beta of 0.71.

NovoCure (NASDAQ:NVCR) last posted its earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, topping 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 company had revenue of $155.10 million during the quarter, compared to the consensus estimate of $143.95 million. During the same period in the previous year, the firm posted ($0.46) earnings per share. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. Sell-side analysts predict that NovoCure will post -1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NVCR has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price objective (up from $30.00) on shares of NovoCure in a research note on Monday. Wedbush reissued a “neutral” rating and issued a $29.00 price objective (up from $24.00) on shares of NovoCure in a research note on Monday. Finally, Evercore ISI upgraded shares of NovoCure from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $18.00 to $30.00 in a report on Monday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $30.33.

Institutional Trading of NovoCure

Several institutional investors and hedge funds have recently modified their holdings of the stock. Lombard Odier Asset Management USA Corp boosted its position in shares of NovoCure by 5.4% during the second quarter. Lombard Odier Asset Management USA Corp now owns 10,862 shares of the medical equipment provider’s stock valued at $186,000 after buying an additional 557 shares during the last quarter. Arizona State Retirement System lifted its stake in NovoCure by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 28,481 shares of the medical equipment provider’s stock valued at $488,000 after acquiring an additional 581 shares in the last quarter. Signaturefd LLC boosted its holdings in NovoCure by 61.7% during the 2nd quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 627 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of NovoCure by 21.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider’s stock worth $61,000 after acquiring an additional 701 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of NovoCure by 58.5% in the third quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock valued at $57,000 after purchasing an additional 1,354 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

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.