NovoCure (NASDAQ:NVCR) Trading Down 4.7% – Here’s Why

NovoCure Limited (NASDAQ:NVCR)’s stock price fell 4.7% during trading on Tuesday . The stock traded as low as $17.90 and last traded at $17.90. 45,194 shares were traded during trading, a decline of 96% from the average session volume of 1,273,558 shares. The stock had previously closed at $18.78.

Wall Street Analyst Weigh In

Several research firms have recently commented on NVCR. Evercore ISI decreased their target price on shares of NovoCure from $21.00 to $18.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of NovoCure in a research report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.17.

NovoCure Trading Down 5.1 %

The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. The stock has a market capitalization of $1.93 billion, a PE ratio of -12.69 and a beta of 0.71. The stock’s 50 day simple moving average is $16.52 and its two-hundred day simple moving average is $18.38.

NovoCure (NASDAQ:NVCR) last released its earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. The firm had revenue of $155.10 million for the quarter, compared to analysts’ expectations of $143.95 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The company’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.46) earnings per share. On average, sell-side analysts expect that NovoCure Limited will post -1.31 EPS for the current year.

Institutional Trading of NovoCure

A number of institutional investors have recently modified their holdings of the business. Lombard Odier Asset Management USA Corp lifted its stake in shares of NovoCure by 5.4% during the 2nd quarter. Lombard Odier Asset Management USA Corp now owns 10,862 shares of the medical equipment provider’s stock valued at $186,000 after buying an additional 557 shares in the last quarter. Arizona State Retirement System increased its holdings in NovoCure by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 28,481 shares of the medical equipment provider’s stock worth $488,000 after acquiring an additional 581 shares during the period. Signaturefd LLC increased its holdings in NovoCure by 61.7% during the 2nd quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 627 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in NovoCure by 21.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider’s stock worth $61,000 after acquiring an additional 701 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in NovoCure by 58.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock worth $57,000 after acquiring an additional 1,354 shares during the period. 84.61% of the stock is currently 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.