NovoCure Ltd. (NASDAQ:NVCR) has earned an average recommendation of “Hold” from the seven analysts that are presently covering the company. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $20.33.
NVCR has been the topic of several research reports. Deutsche Bank AG cut their price objective on NovoCure from $28.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, July 29th. Zacks Investment Research upgraded NovoCure from a “sell” rating to a “hold” rating in a research report on Thursday. JMP Securities dropped their price target on NovoCure from $43.00 to $34.00 and set a “market outperform” rating on the stock in a research report on Friday, July 29th. Wedbush dropped their price target on NovoCure from $30.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, July 29th. Finally, JPMorgan Chase & Co. dropped their price target on NovoCure from $29.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, July 29th.
In related news, Director Gert L. Perlhagen sold 676,576 shares of the stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $1.85, for a total value of $1,251,665.60. Following the completion of the transaction, the director now directly owns 676,576 shares of the company’s stock, valued at approximately $1,251,665.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 33.90% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. acquired a new position in shares of NovoCure during the second quarter worth about $883,000. Schwab Charles Investment Management Inc. raised its position in shares of NovoCure by 465.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 78,600 shares of the company’s stock worth $918,000 after buying an additional 64,700 shares during the period. A.R.T. Advisors LLC acquired a new position in shares of NovoCure during the second quarter worth about $694,000. Highline Capital Management L.P. raised its position in shares of NovoCure by 14.5% in the second quarter. Highline Capital Management L.P. now owns 1,755,879 shares of the company’s stock worth $20,491,000 after buying an additional 222,200 shares during the period. Finally, State Street Corp raised its position in shares of NovoCure by 537.5% in the second quarter. State Street Corp now owns 781,171 shares of the company’s stock worth $9,117,000 after buying an additional 658,632 shares during the period. 22.67% of the stock is owned by institutional investors and hedge funds.
NovoCure (NASDAQ:NVCR) opened at 8.54 on Wednesday. The firm’s market capitalization is $732.51 million. NovoCure has a one year low of $7.30 and a one year high of $30.89. The company’s 50-day moving average price is $8.25 and its 200 day moving average price is $11.00.
NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by $0.11. NovoCure had a negative net margin of 258.09% and a negative return on equity of 69.31%. The firm had revenue of $17.90 million for the quarter, compared to analyst estimates of $15.90 million. On average, analysts forecast that NovoCure will post ($1.74) earnings per share for the current year.
NovoCure Company Profile
NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a therapy called TTFields for the treatment of solid tumor cancers. TTFields is a low-toxicity anti-mitotic treatment that uses low-intensity, intermediate frequency, alternating electric fields to exert physical forces on molecules inside cancer cells, disrupting the basic machinery for normal cell division, leading to cancer cell death.
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