NovoCure (NASDAQ:NVCR) Share Price Passes Below 50 Day Moving Average of $14.57

NovoCure Limited (NASDAQ:NVCR) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $14.57 and traded as low as $12.02. NovoCure shares last traded at $12.34, with a volume of 1,315,526 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of NovoCure from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Evercore ISI increased their price objective on shares of NovoCure from $14.00 to $15.00 and gave the company an “in-line” rating in a report on Friday, February 23rd. Wells Fargo & Company cut their price objective on shares of NovoCure from $49.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Wedbush reaffirmed a “neutral” rating and set a $21.00 price objective on shares of NovoCure in a report on Wednesday, March 27th. Finally, HC Wainwright increased their price objective on shares of NovoCure from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, March 27th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, NovoCure presently has an average rating of “Moderate Buy” and an average target price of $31.13.

NovoCure Stock Performance

The business’s fifty day moving average is $14.57 and its two-hundred day moving average is $13.94. The company has a quick ratio of 5.56, a current ratio of 5.78 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $1.33 billion, a PE ratio of -6.33 and a beta of 0.42.

NovoCure (NASDAQ:NVCR) last posted its earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.08. NovoCure had a negative net margin of 40.65% and a negative return on equity of 51.63%. The firm had revenue of $133.80 million during the quarter, compared to analyst estimates of $133.80 million. During the same period last year, the firm posted ($0.36) earnings per share. NovoCure’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, research analysts anticipate that NovoCure Limited will post -1.78 EPS for the current fiscal year.

Insider Activity at NovoCure

In related news, EVP Frank X. Leonard sold 2,078 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $16.14, for a total value of $33,538.92. Following the completion of the sale, the executive vice president now directly owns 162,617 shares in the company, valued at $2,624,638.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Frank X. Leonard sold 2,078 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $16.14, for a total value of $33,538.92. Following the completion of the sale, the executive vice president now directly owns 162,617 shares in the company, valued at $2,624,638.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $33,775.21. Following the completion of the sale, the chief operating officer now owns 252,452 shares of the company’s stock, valued at $4,046,805.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,921 shares of company stock valued at $127,161. 5.67% of the stock is owned by corporate insiders.

Institutional Trading of NovoCure

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of NovoCure by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 9,759,098 shares of the medical equipment provider’s stock worth $145,703,000 after purchasing an additional 122,105 shares during the last quarter. Norges Bank bought a new stake in shares of NovoCure during the fourth quarter worth $14,543,000. Palo Alto Investors LP lifted its position in shares of NovoCure by 14.2% during the third quarter. Palo Alto Investors LP now owns 660,275 shares of the medical equipment provider’s stock worth $10,663,000 after purchasing an additional 82,157 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of NovoCure by 807.8% during the fourth quarter. Federated Hermes Inc. now owns 616,792 shares of the medical equipment provider’s stock worth $9,209,000 after purchasing an additional 548,852 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of NovoCure by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 551,775 shares of the medical equipment provider’s stock worth $8,238,000 after purchasing an additional 10,510 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

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.