NovoCure (NASDAQ:NVCR) Shares Down 4.1% – Should You Sell?

Shares of NovoCure Limited (NASDAQ:NVCR) traded down 4.1% during trading on Tuesday . The stock traded as low as $19.03 and last traded at $18.98. 86,708 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 1,243,584 shares. The stock had previously closed at $19.78.

Wall Street Analysts Forecast Growth

NVCR has been the topic of several research reports. Piper Sandler lifted their target price on NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Evercore ISI upgraded NovoCure from an “in-line” rating to an “outperform” rating and increased their target price for the company from $18.00 to $30.00 in a research report on Monday, December 2nd. HC Wainwright reissued a “buy” rating and issued a $38.00 target price on shares of NovoCure in a report on Tuesday, January 14th. Wedbush reaffirmed a “neutral” rating and set a $29.00 price target on shares of NovoCure in a research note on Monday, January 13th. Finally, StockNews.com upgraded shares of NovoCure from a “sell” rating to a “hold” rating in a report on Tuesday, March 18th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $35.80.

NovoCure Stock Performance

The firm has a fifty day moving average price of $22.32 and a two-hundred day moving average price of $21.62. 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 $2.06 billion, a PE ratio of -13.41 and a beta of 0.63.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.27). NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The business had revenue of $161.27 million for the quarter, compared to the consensus estimate of $161.30 million. Research analysts expect that NovoCure Limited will post -1.3 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NVCR. GeoWealth Management LLC purchased a new position in NovoCure during the 4th quarter valued at about $27,000. Brooklyn Investment Group bought a new position in shares of NovoCure during the third quarter valued at approximately $45,000. Lindbrook Capital LLC increased its holdings in NovoCure by 189.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock valued at $55,000 after buying an additional 1,213 shares during the period. Blue Trust Inc. increased its holdings in NovoCure by 70.7% during the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after buying an additional 781 shares during the period. Finally, GF Fund Management CO. LTD. bought a new position in NovoCure in the fourth quarter worth approximately $68,000. Institutional investors own 84.61% of the company’s stock.

About NovoCure

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.