Novocure (NVCR) Shares Down 5.2%

Novocure Ltd (NASDAQ:NVCR)’s share price was down 5.2% during trading on Friday . The company traded as low as $42.53 and last traded at $42.70. Approximately 667,793 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 853,955 shares. The stock had previously closed at $45.04.

A number of equities analysts recently commented on NVCR shares. Wells Fargo & Co lifted their target price on shares of Novocure from $40.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, September 6th. BidaskClub upgraded shares of Novocure from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 16th. Wedbush reiterated an “outperform” rating and issued a $40.00 target price (down previously from $50.00) on shares of Novocure in a research report on Friday, September 7th. Mizuho reiterated a “buy” rating and issued a $58.00 target price on shares of Novocure in a research report on Thursday, September 6th. Finally, ValuEngine upgraded shares of Novocure from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 3rd. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Novocure presently has an average rating of “Buy” and a consensus target price of $49.57.

The stock has a market cap of $4.22 billion, a PE ratio of -61.19 and a beta of 3.30. The company has a debt-to-equity ratio of 1.33, a quick ratio of 5.97 and a current ratio of 6.41.

Novocure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, July 26th. The medical equipment provider reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). Novocure had a negative net margin of 26.99% and a negative return on equity of 52.34%. The firm had revenue of $61.50 million during the quarter, compared to analysts’ expectations of $59.53 million. The business’s revenue for the quarter was up 60.2% compared to the same quarter last year. As a group, analysts forecast that Novocure Ltd will post -0.7 earnings per share for the current fiscal year.

In other Novocure news, CFO Wilhelmus Cm Groenhuysen sold 1,241 shares of the business’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $35.01, for a total value of $43,447.41. Following the transaction, the chief financial officer now owns 115,644 shares in the company, valued at $4,048,696.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Yoram Palti sold 25,666 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $40.03, for a total transaction of $1,027,409.98. The disclosure for this sale can be found here. Insiders sold 198,518 shares of company stock worth $7,543,993 in the last 90 days. Corporate insiders own 15.30% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in NVCR. Envestnet Asset Management Inc. purchased a new position in shares of Novocure in the second quarter valued at about $135,000. CWM LLC purchased a new position in shares of Novocure in the second quarter valued at about $163,000. NumerixS Investment Technologies Inc increased its position in shares of Novocure by 270.6% in the second quarter. NumerixS Investment Technologies Inc now owns 6,300 shares of the medical equipment provider’s stock valued at $196,000 after acquiring an additional 4,600 shares during the period. WINTON GROUP Ltd purchased a new position in shares of Novocure in the second quarter valued at about $202,000. Finally, D.A. Davidson & CO. bought a new stake in shares of Novocure during the 2nd quarter valued at about $210,000. Hedge funds and other institutional investors own 56.03% of the company’s stock.

Novocure Company Profile (NASDAQ:NVCR)

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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