NovoCure (NASDAQ:NVCR) Director Kristin Stafford Sells 2,945 Shares

NovoCure Limited (NASDAQ:NVCR) Director Kristin Stafford sold 2,945 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total value of $46,442.65. Following the sale, the director directly owned 11,324 shares of the company’s stock, valued at approximately $178,579.48. This represents a 20.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

NovoCure Stock Performance

NVCR opened at $16.15 on Thursday. The firm has a market cap of $1.87 billion, a PE ratio of -10.56 and a beta of 0.93. The company has a quick ratio of 2.70, a current ratio of 2.90 and a debt-to-equity ratio of 0.71. The business has a fifty day simple moving average of $14.16 and a 200-day simple moving average of $13.14. NovoCure Limited has a fifty-two week low of $9.82 and a fifty-two week high of $19.25.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.11). The company had revenue of $174.06 million for the quarter, compared to the consensus estimate of $167.77 million. NovoCure had a negative return on equity of 50.82% and a negative net margin of 25.66%.The business’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.31) earnings per share. As a group, equities analysts predict that NovoCure Limited will post -1.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company raised their price objective on NovoCure from $13.50 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Wedbush reaffirmed a “neutral” rating and issued a $18.00 target price on shares of NovoCure in a research report on Thursday, April 16th. Evercore reaffirmed an “outperform” rating on shares of NovoCure in a research report on Friday, May 1st. HC Wainwright raised their target price on NovoCure from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings raised NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Four equities research 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $27.29.

Institutional Trading of NovoCure

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of NovoCure by 4.8% in the fourth 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. boosted its position in shares of NovoCure by 25.0% in 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 buying an additional 1,382,888 shares during the period. Morgan Stanley boosted its position in shares of NovoCure by 453.4% in the fourth quarter. Morgan Stanley now owns 5,069,895 shares of the medical equipment provider’s stock worth $65,554,000 after buying an additional 4,153,741 shares during the period. Quantinno Capital Management LP boosted its position in shares of NovoCure by 23.7% in the first quarter. Quantinno Capital Management LP now owns 2,487,376 shares of the medical equipment provider’s stock worth $27,112,000 after buying an additional 477,128 shares during the period. Finally, Balyasny Asset Management L.P. boosted its position in shares of NovoCure by 38.8% in the second quarter. Balyasny Asset Management L.P. now owns 2,270,076 shares of the medical equipment provider’s stock worth $40,407,000 after buying an additional 634,925 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.