NovoCure (NASDAQ:NVCR) Stock Price Passes Above 50-Day Moving Average – Should You Sell?

NovoCure Limited (NASDAQ:NVCR) shares passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $26.75 and traded as high as $27.11. NovoCure shares last traded at $26.33, with a volume of 834,531 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NVCR. HC Wainwright reissued a “buy” rating and set a $38.00 price target on shares of NovoCure in a report on Tuesday, January 14th. Wedbush reissued a “neutral” rating and issued a $29.00 target price on shares of NovoCure in a report on Monday, January 13th. Evercore ISI raised NovoCure from an “in-line” rating to an “outperform” rating and raised their price target for the company from $18.00 to $30.00 in a report on Monday, December 2nd. Finally, Piper Sandler boosted their price objective on NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.67.

NovoCure Stock Down 2.6 %

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. The business has a 50-day moving average price of $26.96 and a two-hundred day moving average price of $20.84.

NovoCure (NASDAQ:NVCR) last released its earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $143.95 million. During the same period in the prior year, the company posted ($0.46) EPS. The company’s revenue was up 21.8% compared to the same quarter last year. On average, equities research analysts predict that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NovoCure

A number of institutional investors have recently made changes to their positions in NVCR. Mirae Asset Global Investments Co. Ltd. grew its position in shares of NovoCure by 21.8% during 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 buying an additional 701 shares during the period. Blue Trust Inc. increased its stake in NovoCure by 70.7% in the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after purchasing an additional 781 shares in the last quarter. Versant Capital Management Inc raised its holdings in NovoCure by 35.8% in the fourth quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock worth $100,000 after purchasing an additional 880 shares during the period. Venturi Wealth Management LLC boosted its position in shares of NovoCure by 58.5% during the third quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock worth $57,000 after purchasing an additional 1,354 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of NovoCure by 57.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider’s stock valued at $129,000 after buying an additional 1,575 shares during the period. 84.61% of the stock is 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.