NovoCure (NASDAQ:NVCR) Director Sells $46,442.65 in Stock

NovoCure Limited (NASDAQ:NVCR) Director W Anthony Vernon sold 2,945 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total value of $46,442.65. Following the sale, the director owned 197,657 shares in the company, valued at approximately $3,117,050.89. This represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Trading Down 4.6%

Shares of NVCR opened at $17.16 on Friday. The business’s 50-day moving average price is $14.40 and its 200-day moving average price is $13.22. NovoCure Limited has a twelve month low of $9.82 and a twelve month high of $19.25. The stock has a market cap of $1.99 billion, a PE ratio of -11.22 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.

NovoCure (NASDAQ:NVCR) last posted 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 during 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 firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.31) earnings per share. On average, equities analysts forecast that NovoCure Limited will post -1.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NVCR has been the subject of several research reports. Wedbush reaffirmed a “neutral” rating and issued a $18.00 target price on shares of NovoCure in a research note on Thursday, April 16th. Wells Fargo & Company upped their target price on NovoCure from $13.50 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Evercore reissued an “outperform” rating on shares of NovoCure in a research note on Friday, May 1st. HC Wainwright increased their price objective on NovoCure from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, Weiss Ratings raised NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, NovoCure presently has an average rating of “Hold” and a consensus target price of $27.29.

Hedge Funds Weigh In On NovoCure

Hedge funds and other institutional investors have recently made changes to their positions in the business. Empowered Funds LLC bought a new position in shares of NovoCure during the fourth quarter valued at approximately $33,000. Kestra Advisory Services LLC bought a new position in shares of NovoCure during the fourth quarter valued at approximately $49,000. Larson Financial Group LLC raised its holdings in shares of NovoCure by 662.1% during the third quarter. Larson Financial Group LLC now owns 4,100 shares of the medical equipment provider’s stock valued at $53,000 after acquiring an additional 3,562 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of NovoCure during the second quarter valued at approximately $88,000. Finally, Acadian Asset Management LLC bought a new position in shares of NovoCure during the first quarter valued at approximately $87,000. Institutional investors 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.