NovoCure (NASDAQ:NVCR) Stock Falls 5.3% – Should You Sell?

Shares of NovoCure Limited (NASDAQ:NVCR) traded down 5.3% on Monday. The company traded as low as $12.25 and last traded at $12.5750. 1,391,651 shares changed hands during trading, a decline of 17% from the average session volume of 1,681,598 shares. The stock had previously closed at $13.28.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on NVCR shares. Wall Street Zen upgraded NovoCure from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. JPMorgan Chase & Co. initiated coverage on shares of NovoCure in a research report on Monday, July 13th. They set a “neutral” rating and a $17.00 price objective on the stock. Zacks Research upgraded shares of NovoCure from a “strong sell” rating to a “hold” rating in a research note on Friday, July 24th. Weiss Ratings downgraded shares of NovoCure from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 30th. Finally, HC Wainwright set a $32.00 target price on shares of NovoCure in a research note on Friday, July 24th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, NovoCure presently has an average rating of “Hold” and an average price target of $20.80.

NovoCure Stock Performance

The stock has a market capitalization of $1.48 billion, a PE ratio of -11.97 and a beta of 1.09. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.49 and a quick ratio of 2.34. The business’s fifty day moving average price is $15.40 and its 200-day moving average price is $14.79.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, October 29th. The medical equipment provider reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.14. The company had revenue of $193.40 million during the quarter, compared to analyst estimates of $182.28 million. NovoCure had a negative net margin of 16.78% and a negative return on equity of 35.81%. NovoCure’s revenue was up 15.7% compared to the same quarter last year. During the same period last year, the business earned ($0.33) earnings per share. As a group, equities research analysts expect that NovoCure Limited will post -1.09 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NVCR. Elevation Wealth Partners LLC boosted its position in shares of NovoCure by 196.4% during the 3rd quarter. Elevation Wealth Partners LLC now owns 1,731 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 1,147 shares in the last quarter. Allworth Financial LP grew its stake in shares of NovoCure by 182.0% in the 2nd quarter. Allworth Financial LP now owns 2,721 shares of the medical equipment provider’s stock worth $41,000 after purchasing an additional 1,756 shares during the last quarter. Kera Capital Partners Inc. raised its holdings in shares of NovoCure by 9.0% in the 1st quarter. Kera Capital Partners Inc. now owns 21,454 shares of the medical equipment provider’s stock worth $234,000 after purchasing an additional 1,763 shares in the last quarter. First Bancorp Inc ME bought a new stake in shares of NovoCure in the 2nd quarter worth approximately $38,000. Finally, Chicago Partners Investment Group LLC lifted its stake in NovoCure by 8.2% during the third quarter. Chicago Partners Investment Group LLC now owns 33,251 shares of the medical equipment provider’s stock valued at $488,000 after purchasing an additional 2,521 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

About NovoCure

NovoCure Ltd. (NASDAQ: NVCR) is an oncology company that develops and commercializes therapies based on Tumor Treating Fields (TTFields), low-intensity electric fields designed to disrupt the division of cancer cells. Its treatments are delivered through portable, wearable devices used alongside other cancer therapies.

The company’s principal products include Optune Gio for certain adults with glioblastoma and Optune Lua for adults with unresectable, locally advanced or metastatic pleural mesothelioma and certain forms of metastatic non-small cell lung cancer.