NovoCure (NASDAQ:NVCR) Stock Price Down 4% – What’s Next?

NovoCure Limited (NASDAQ:NVCR)’s share price traded down 4% on Friday . The company traded as low as $17.03 and last traded at $17.06. 494,898 shares traded hands during trading, a decline of 72% from the average daily volume of 1,747,727 shares. The stock had previously closed at $17.77.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wall Street Zen raised NovoCure from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Evercore reiterated an “outperform” rating on shares of NovoCure in a report on Friday, May 1st. HC Wainwright set a $32.00 price target on shares of NovoCure in a research note on Friday, July 24th. Weiss Ratings raised NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. Finally, Zacks Research upgraded NovoCure from a “strong sell” rating to a “hold” rating in a research note on Friday, July 24th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $21.20.

NovoCure Price Performance

The company has a 50-day simple moving average of $16.40 and a two-hundred day simple moving average of $14.55. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of -13.16 and a beta of 0.97. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.89 and a quick ratio of 2.70.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings data on Thursday, July 23rd. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.20. NovoCure had a negative return on equity of 44.00% and a negative net margin of 21.25%.The business had revenue of $183.58 million during the quarter, compared to the consensus estimate of $172.44 million. During the same period in the previous year, the firm posted ($0.36) earnings per share. The business’s revenue was up 15.6% on a year-over-year basis. On average, equities research analysts predict that NovoCure Limited will post -1.21 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Allyson J. Ocean sold 2,945 shares of NovoCure 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 transaction, the director owned 11,324 shares of the company’s stock, valued at $178,579.48. The trade was a 20.64% decrease in their position. The sale was disclosed in a document filed 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. Also, Director Timothy J. Scannell sold 2,945 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total value of $46,442.65. Following the sale, the director directly owned 14,288 shares in the company, valued at $225,321.76. This trade represents a 17.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 51,943 shares of company stock worth $893,171. 6.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NovoCure

A number of institutional investors have recently bought and sold shares of NVCR. Empowered Funds LLC acquired a new position in shares of NovoCure in the 4th quarter valued at about $33,000. First Bancorp Inc ME acquired a new stake in shares of NovoCure during the second quarter worth approximately $38,000. Kestra Advisory Services LLC acquired a new stake in shares of NovoCure during the fourth quarter worth approximately $49,000. Larson Financial Group LLC grew its position in NovoCure by 662.1% during the third quarter. Larson Financial Group LLC now owns 4,100 shares of the medical equipment provider’s stock valued at $53,000 after purchasing an additional 3,562 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in NovoCure by 25.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,442 shares of the medical equipment provider’s stock valued at $70,000 after buying an additional 1,120 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

NovoCure Company Profile

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.