NovoCure (NASDAQ:NVCR) Trading Down 4.1% – What’s Next?

Shares of NovoCure Limited (NASDAQ:NVCR) fell 4.1% on Tuesday . The company traded as low as $11.30 and last traded at $11.1980. 155,517 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 1,333,984 shares. The stock had previously closed at $11.68.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of NovoCure in a report on Wednesday, October 8th. HC Wainwright upped their target price on shares of NovoCure from $38.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Wedbush reiterated a “neutral” rating and issued a $18.00 target price on shares of NovoCure in a report on Tuesday, September 30th. Finally, JPMorgan Chase & Co. cut their price target on shares of NovoCure from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. Three equities 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. Based on data from MarketBeat.com, NovoCure presently has an average rating of “Hold” and an average price target of $26.92.

NovoCure Stock Down 4.9%

The stock has a 50 day moving average price of $12.87 and a 200 day moving average price of $14.21. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.50 and a current ratio of 1.55. The company has a market capitalization of $1.24 billion, a P/E ratio of -6.91 and a beta of 0.82.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings results on Thursday, October 30th. The medical equipment provider reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.09. The company had revenue of $167.20 million during the quarter, compared to analyst estimates of $158.81 million. NovoCure had a negative net margin of 27.66% and a negative return on equity of 50.29%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.28) earnings per share. Equities research analysts forecast that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Ashley Cordova purchased 81,550 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were bought at an average price of $12.22 per share, with a total value of $996,541.00. Following the acquisition, the chief executive officer owned 437,569 shares of the company’s stock, valued at $5,347,093.18. This trade represents a 22.91% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.52% of the stock is currently owned by insiders.

Institutional Trading of NovoCure

A number of large investors have recently bought and sold shares of NVCR. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in NovoCure by 154.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,782,159 shares of the medical equipment provider’s stock worth $31,758,000 after acquiring an additional 1,080,514 shares during the last quarter. Strs Ohio bought a new position in NovoCure during the first quarter worth about $759,000. American Century Companies Inc. purchased a new position in shares of NovoCure in the first quarter worth about $1,262,000. KLP Kapitalforvaltning AS raised its position in shares of NovoCure by 6.5% in the second quarter. KLP Kapitalforvaltning AS now owns 23,000 shares of the medical equipment provider’s stock valued at $409,000 after purchasing an additional 1,400 shares during the period. Finally, Washington Capital Management Inc. purchased a new stake in shares of NovoCure during the 2nd quarter valued at approximately $374,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

NovoCure Company Profile

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company’s TTFields devices include Optune Gio and Optune Lua.