NovoCure (NVCR) Reaches New 52-Week High and Low at $30.70

NovoCure (NASDAQ:NVCR) hit a new 52-week high and low during trading on Thursday . The stock traded as low as $30.70 and last traded at $31.05, with a volume of 30106 shares changing hands. The stock had previously closed at $30.00.

Several equities research analysts recently commented on NVCR shares. Mizuho reissued a “buy” rating and issued a $28.00 price target (up previously from $25.00) on shares of NovoCure in a research note on Friday, February 23rd. Zacks Investment Research raised NovoCure from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Thursday, April 26th. BidaskClub raised NovoCure from a “hold” rating to a “buy” rating in a research note on Tuesday, April 24th. Deutsche Bank raised NovoCure from a “hold” rating to a “buy” rating and lowered their price target for the company from $23.80 to $19.00 in a research note on Thursday, April 19th. Finally, ValuEngine raised NovoCure from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $25.20.

The stock has a market capitalization of $2.69 billion, a PE ratio of -43.64 and a beta of 3.07. The company has a quick ratio of 5.87, a current ratio of 6.32 and a debt-to-equity ratio of 1.41.

NovoCure (NASDAQ:NVCR) last announced its earnings results on Thursday, April 26th. The medical equipment provider reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.10). The company had revenue of $52.13 million for the quarter, compared to the consensus estimate of $57.13 million. NovoCure had a negative return on equity of 56.70% and a negative net margin of 33.12%. equities analysts predict that NovoCure will post -0.6 earnings per share for the current fiscal year.

In other news, General Counsel Todd Christopher Longsworth sold 6,591 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $19.83, for a total transaction of $130,699.53. Following the completion of the transaction, the general counsel now directly owns 26,665 shares in the company, valued at $528,766.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gabriel Leung sold 80,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $28.83, for a total value of $2,306,400.00. The disclosure for this sale can be found here. Insiders have sold 508,733 shares of company stock valued at $12,828,491 in the last ninety days. Company insiders own 15.30% of the company’s stock.

Several hedge funds have recently modified their holdings of NVCR. Peregrine Capital Management LLC lifted its holdings in shares of NovoCure by 38.0% during the fourth quarter. Peregrine Capital Management LLC now owns 865,671 shares of the medical equipment provider’s stock worth $17,487,000 after buying an additional 238,195 shares during the last quarter. Chicago Equity Partners LLC lifted its holdings in shares of NovoCure by 53.0% during the fourth quarter. Chicago Equity Partners LLC now owns 155,725 shares of the medical equipment provider’s stock worth $3,146,000 after buying an additional 53,930 shares during the last quarter. Engineers Gate Manager LP lifted its holdings in shares of NovoCure by 202.3% during the fourth quarter. Engineers Gate Manager LP now owns 67,899 shares of the medical equipment provider’s stock worth $1,372,000 after buying an additional 45,438 shares during the last quarter. Essex Investment Management Co. LLC lifted its holdings in shares of NovoCure by 107.6% during the fourth quarter. Essex Investment Management Co. LLC now owns 171,237 shares of the medical equipment provider’s stock worth $3,459,000 after buying an additional 88,753 shares during the last quarter. Finally, Hodges Capital Management Inc. lifted its holdings in shares of NovoCure by 29.9% during the fourth quarter. Hodges Capital Management Inc. now owns 273,500 shares of the medical equipment provider’s stock worth $5,525,000 after buying an additional 63,000 shares during the last quarter. Institutional investors own 48.14% of the company’s stock.

About NovoCure

NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.

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