NovoCure (NASDAQ:NVCR) Shares Up 7.8% – What’s Next?

Shares of NovoCure Limited (NASDAQ:NVCR) rose 7.8% during trading on Thursday . The company traded as high as $16.94 and last traded at $17.0050. Approximately 249,696 shares traded hands during trading, a decline of 86% from the average session volume of 1,766,242 shares. The stock had previously closed at $15.78.

Analyst Ratings Changes

Several research firms have recently issued reports on NVCR. Wedbush reiterated a “neutral” rating and issued a $18.00 price objective on shares of NovoCure in a report on Thursday, April 16th. HC Wainwright reissued a “buy” rating and set a $46.00 target price (down from $48.00) on shares of NovoCure in a report on Thursday, June 18th. 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 report on Monday, May 4th. Weiss Ratings raised NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. Finally, Evercore reiterated an “outperform” rating on shares of NovoCure in a research report on Friday, May 1st. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $25.67.

NovoCure Trading Up 5.3%

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 stock has a market capitalization of $1.92 billion, a P/E ratio of -10.89 and a beta of 0.94. The firm’s 50-day simple moving average is $16.11 and its 200 day simple moving average is $13.70.

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 business had revenue of $174.06 million for the quarter, compared to the consensus estimate of $167.77 million. NovoCure had a negative net margin of 25.66% and a negative return on equity of 50.82%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.31) EPS. Equities research analysts anticipate that NovoCure Limited will post -1.55 EPS for the current fiscal year.

Insider Buying and Selling at NovoCure

In related news, CEO Frank X. Leonard sold 34,273 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $17.93, for a total transaction of $614,514.89. Following the completion of the sale, the chief executive officer directly owned 459,520 shares in the company, valued at approximately $8,239,193.60. This trade represents a 6.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Allyson J. Ocean sold 2,945 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total transaction of $46,442.65. Following the sale, the director owned 11,324 shares of the company’s stock, valued at $178,579.48. The trade was a 20.64% decrease in their ownership of the stock. 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 quarter, insiders sold 51,943 shares of company stock valued at $893,171. Corporate insiders own 5.52% of the company’s stock.

Institutional Investors Weigh In On NovoCure

Several large investors have recently modified their holdings of NVCR. Quantbot Technologies LP boosted its position in shares of NovoCure by 163.6% in the 3rd quarter. Quantbot Technologies LP now owns 195,515 shares of the medical equipment provider’s stock valued at $2,526,000 after purchasing an additional 121,354 shares during the period. Algert Global LLC increased its stake in NovoCure by 372.2% in the 3rd quarter. Algert Global LLC now owns 682,858 shares of the medical equipment provider’s stock worth $8,823,000 after purchasing an additional 538,235 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in NovoCure by 104.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 282,184 shares of the medical equipment provider’s stock worth $3,646,000 after buying an additional 144,024 shares during the period. Tudor Investment Corp ET AL raised its holdings in NovoCure by 140.6% during the 3rd quarter. Tudor Investment Corp ET AL now owns 606,070 shares of the medical equipment provider’s stock worth $7,830,000 after buying an additional 354,216 shares during the period. Finally, American Century Companies Inc. lifted its stake in NovoCure by 18.3% during the third quarter. American Century Companies Inc. now owns 1,218,807 shares of the medical equipment provider’s stock valued at $15,747,000 after buying an additional 188,933 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

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.