William Doyle Sells 71,887 Shares of NovoCure (NASDAQ:NVCR) Stock

NovoCure Limited (NASDAQ:NVCR) Chairman William Doyle sold 71,887 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $12.98, for a total transaction of $933,093.26. Following the sale, the chairman owned 328,397 shares in the company, valued at approximately $4,262,593.06. This trade represents a 17.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

NovoCure Stock Up 6.0%

NVCR traded up $0.81 on Thursday, reaching $14.23. The company’s stock had a trading volume of 2,315,394 shares, compared to its average volume of 2,231,897. The stock has a 50 day moving average of $12.73 and a two-hundred day moving average of $12.70. The company has a quick ratio of 1.50, a current ratio of 2.90 and a debt-to-equity ratio of 0.70. NovoCure Limited has a fifty-two week low of $9.82 and a fifty-two week high of $21.55. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -11.66 and a beta of 0.71.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, February 26th. The medical equipment provider reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.19. NovoCure had a negative return on equity of 39.11% and a negative net margin of 20.79%.The company had revenue of $174.35 million during the quarter, compared to analysts’ expectations of $174.40 million. During the same period last year, the firm earned ($0.61) EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, analysts forecast that NovoCure Limited will post -1.3 EPS for the current fiscal year.

Institutional Investors Weigh In On NovoCure

Several hedge funds and other institutional investors have recently modified their holdings of NVCR. Morgan Stanley boosted its holdings in NovoCure by 453.4% during the fourth quarter. Morgan Stanley now owns 5,069,895 shares of the medical equipment provider’s stock valued at $65,554,000 after purchasing an additional 4,153,741 shares in the last quarter. Soleus Capital Management L.P. raised its position in NovoCure by 25.0% in the 2nd quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider’s stock worth $122,897,000 after purchasing an additional 1,382,888 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in NovoCure by 1,093.2% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,223,755 shares of the medical equipment provider’s stock worth $15,823,000 after buying an additional 1,121,192 shares in the last quarter. American Century Companies Inc. boosted its position in NovoCure by 1,354.7% in the 2nd quarter. American Century Companies Inc. now owns 1,029,874 shares of the medical equipment provider’s stock valued at $18,332,000 after buying an additional 959,079 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in NovoCure in the fourth quarter valued at about $11,991,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on NVCR shares. Wedbush reissued a “neutral” rating and set a $18.00 price target on shares of NovoCure in a research report on Thursday, January 15th. HC Wainwright increased their price objective on shares of NovoCure from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of NovoCure in a report on Thursday, January 22nd. Finally, Evercore set a $20.00 price target on NovoCure in a report on Monday, January 5th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.93.

About NovoCure

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.