NovoCure (NASDAQ:NVCR) Reaches New 1-Year Low – Time to Sell?

NovoCure Limited (NASDAQ:NVCR)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $10.39 and last traded at $10.1540, with a volume of 2040282 shares changing hands. The stock had previously closed at $11.56.

Analysts Set New Price Targets

A number of analysts recently commented on NVCR shares. Evercore set a $20.00 price objective on NovoCure in a research report on Monday, January 5th. HC Wainwright reduced their target price on shares of NovoCure from $42.00 to $39.00 and set a “buy” rating on the stock in a report on Tuesday, January 13th. Wedbush reaffirmed a “neutral” rating and set a $18.00 price target on shares of NovoCure in a research note on Thursday, January 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of NovoCure in a research report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of NovoCure from $25.00 to $23.00 and set a “neutral” rating on the stock in a research note on Monday, October 27th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $25.50.

NovoCure Price Performance

The company’s 50-day moving average is $12.95 and its 200-day moving average is $12.70. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.55 and a quick ratio of 1.50. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -6.30 and a beta of 0.73.

Institutional Trading of NovoCure

Several institutional investors have recently made changes to their positions in NVCR. Vanguard Group Inc. raised its position in shares of NovoCure by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 10,958,209 shares of the medical equipment provider’s stock worth $141,690,000 after buying an additional 502,368 shares during the period. Soleus Capital Management L.P. increased its stake in NovoCure by 25.0% during the second quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider’s stock worth $122,897,000 after acquiring an additional 1,382,888 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of NovoCure by 38.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,270,076 shares of the medical equipment provider’s stock worth $40,407,000 after purchasing an additional 634,925 shares during the period. Quantinno Capital Management LP lifted its stake in shares of NovoCure by 38.5% in the 2nd quarter. Quantinno Capital Management LP now owns 1,368,663 shares of the medical equipment provider’s stock valued at $24,362,000 after purchasing an additional 380,411 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of NovoCure by 106.5% in the 3rd quarter. Millennium Management LLC now owns 1,335,490 shares of the medical equipment provider’s stock valued at $17,255,000 after purchasing an additional 688,710 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

NovoCure Company Profile

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.