NovoCure (NASDAQ:NVCR) Director W Anthony Vernon Sells 2,945 Shares of Stock

NovoCure Limited (NASDAQ:NVCR) Director W Anthony Vernon sold 2,945 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total value of $46,442.65. Following the completion of the sale, the director owned 197,657 shares in the company, valued at $3,117,050.89. The trade was a 1.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

NovoCure Trading Up 2.1%

NASDAQ NVCR opened at $16.15 on Thursday. NovoCure Limited has a 52 week low of $9.82 and a 52 week high of $19.25. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of -10.56 and a beta of 0.93. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.70 and a current ratio of 2.90. The stock’s 50 day moving average price is $14.16 and its two-hundred day moving average price is $13.14.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). NovoCure had a negative return on equity of 50.82% and a negative net margin of 25.66%.The company had revenue of $174.06 million for the quarter, compared to the consensus estimate of $167.77 million. During the same quarter in the prior year, the company earned ($0.31) EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, analysts anticipate that NovoCure Limited will post -1.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wedbush reiterated a “neutral” rating and set a $18.00 price objective on shares of NovoCure in a research note on Thursday, April 16th. Wells Fargo & Company upped their price objective on NovoCure from $13.50 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Weiss Ratings upgraded shares of NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. HC Wainwright raised their target price on shares of NovoCure from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, Evercore reiterated an “outperform” rating on shares of NovoCure in a research note on Friday, May 1st. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $27.29.

Institutional Trading of NovoCure

A number of hedge funds have recently modified their holdings of NVCR. Empowered Funds LLC acquired a new stake in shares of NovoCure during the 4th quarter worth about $33,000. Kestra Advisory Services LLC acquired a new stake in shares of NovoCure during the 4th quarter worth about $49,000. Larson Financial Group LLC raised its holdings in NovoCure by 662.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,100 shares of the medical equipment provider’s stock valued at $53,000 after acquiring an additional 3,562 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in NovoCure by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,442 shares of the medical equipment provider’s stock worth $70,000 after acquiring an additional 1,120 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in NovoCure during the first quarter worth approximately $87,000. Institutional investors and hedge funds 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.