NovoCure (NASDAQ:NVCR) Sets New 1-Year Low – Should You Sell?

NovoCure Limited (NASDAQ:NVCR) reached a new 52-week low on Thursday . The company traded as low as $10.39 and last traded at $10.1540, with a volume of 2040282 shares traded. The stock had previously closed at $11.56.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. HC Wainwright lowered their price target on NovoCure from $42.00 to $39.00 and set a “buy” rating on the stock in a report on Tuesday, January 13th. JPMorgan Chase & Co. reduced their price objective on shares of NovoCure from $25.00 to $23.00 and set a “neutral” rating on the stock in a research report on Monday, October 27th. Evercore ISI set a $20.00 target price on shares of NovoCure in a research report on Monday, January 5th. Wedbush reaffirmed a “neutral” rating and set a $18.00 target price on shares of NovoCure in a research note on Thursday, January 15th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of NovoCure in a research note on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $25.50.

NovoCure Stock Down 11.8%

The business’s 50 day simple moving average is $13.06 and its 200 day simple moving average is $12.76. The company has a current ratio of 1.55, a quick ratio of 1.50 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $1.14 billion, a PE ratio of -6.33 and a beta of 0.73.

Hedge Funds Weigh In On NovoCure

Large investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted its stake in NovoCure by 56.7% during the first quarter. AQR Capital Management LLC now owns 28,728 shares of the medical equipment provider’s stock worth $512,000 after buying an additional 10,394 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in NovoCure by 3.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,992 shares of the medical equipment provider’s stock valued at $1,336,000 after purchasing an additional 2,502 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in NovoCure by 5.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 993,670 shares of the medical equipment provider’s stock valued at $17,707,000 after purchasing an additional 52,180 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in NovoCure in the 1st quarter worth about $87,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in NovoCure by 17.1% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,307 shares of the medical equipment provider’s stock worth $77,000 after purchasing an additional 629 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

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.