NovoCure (NASDAQ:NVCR) Shares Down 4% – Should You Sell?

NovoCure Limited (NASDAQ:NVCR) shares traded down 4% during mid-day trading on Friday . The stock traded as low as $17.03 and last traded at $17.06. Approximately 494,898 shares traded hands during trading, a decline of 72% from the average daily volume of 1,747,727 shares. The stock had previously closed at $17.77.

Wall Street Analysts Forecast Growth

NVCR has been the subject of a number of research analyst reports. HC Wainwright set a $32.00 price target on NovoCure in a research note on Friday, July 24th. Zacks Research upgraded shares of NovoCure from a “strong sell” rating to a “hold” rating in a report on Friday, July 24th. Weiss Ratings raised shares of NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. JPMorgan Chase & Co. started coverage on shares of NovoCure in a research report on Monday, July 13th. They set a “neutral” rating and a $17.00 price target on the stock. Finally, Evercore reissued an “outperform” rating on shares of NovoCure in a research note on Friday, May 1st. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $21.20.

NovoCure Stock Down 3.8%

The company has a market capitalization of $1.99 billion, a P/E ratio of -13.15 and a beta of 0.97. The company has a 50-day moving average of $16.39 and a two-hundred day moving average of $14.57. The company has a quick ratio of 2.70, a current ratio of 2.89 and a debt-to-equity ratio of 0.58.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, July 23rd. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.20. The business had revenue of $183.58 million during the quarter, compared to the consensus estimate of $172.44 million. NovoCure had a negative return on equity of 44.00% and a negative net margin of 21.25%.The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.36) earnings per share. On average, research analysts predict that NovoCure Limited will post -1.21 EPS for the current year.

Insider Transactions at NovoCure

In related news, Director W Anthony Vernon sold 2,945 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total transaction of $46,442.65. Following the sale, the director owned 197,657 shares of the company’s stock, valued at $3,117,050.89. The trade was a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jeryl L. Hilleman sold 2,945 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total transaction of $46,442.65. Following the completion of the sale, the director owned 13,861 shares in the company, valued at approximately $218,587.97. This trade represents a 17.52% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 51,943 shares of company stock worth $893,171. 6.55% of the stock is owned by insiders.

Hedge Funds Weigh In On NovoCure

Large investors have recently made changes to their positions in the business. AQR Capital Management LLC boosted its position in shares of NovoCure by 56.7% in the 1st quarter. AQR Capital Management LLC now owns 28,728 shares of the medical equipment provider’s stock worth $512,000 after purchasing an additional 10,394 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in NovoCure by 3.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,992 shares of the medical equipment provider’s stock valued at $1,336,000 after buying an additional 2,502 shares in the last quarter. Goldman Sachs Group Inc. increased its position in NovoCure by 5.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 993,670 shares of the medical equipment provider’s stock valued at $17,707,000 after buying an additional 52,180 shares in the last quarter. Acadian Asset Management LLC purchased a new position in NovoCure during the first quarter valued at $87,000. Finally, Prudential Financial Inc. bought a new stake in NovoCure in the second quarter worth $216,000. 84.61% of the stock is currently 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.