Frank X. Leonard Sells 1,863 Shares of NovoCure Limited (NASDAQ:NVCR) Stock

NovoCure Limited (NASDAQ:NVCRGet Rating) insider Frank X. Leonard sold 1,863 shares of the business’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $88.00, for a total value of $163,944.00. Following the transaction, the insider now directly owns 84,150 shares of the company’s stock, valued at approximately $7,405,200. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

NovoCure Trading Up 0.8 %

Shares of NVCR stock opened at $89.57 on Tuesday. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of -137.80 and a beta of 0.79. The stock has a 50-day moving average of $77.51 and a 200-day moving average of $76.20. The company has a current ratio of 8.08, a quick ratio of 7.87 and a debt-to-equity ratio of 1.28. NovoCure Limited has a 1-year low of $56.39 and a 1-year high of $132.38.

NovoCure (NASDAQ:NVCRGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The medical equipment provider reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.09). The company had revenue of $140.90 million during the quarter, compared to analyst estimates of $135.13 million. NovoCure had a negative net margin of 12.52% and a negative return on equity of 16.04%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.14) EPS. On average, equities research analysts forecast that NovoCure Limited will post -0.89 earnings per share for the current year.

Institutional Investors Weigh In On NovoCure

Several institutional investors and hedge funds have recently made changes to their positions in NVCR. International Biotechnology Trust PLC acquired a new stake in shares of NovoCure in the second quarter valued at about $32,000. Bellwether Advisors LLC boosted its position in shares of NovoCure by 1,108.1% during the 1st quarter. Bellwether Advisors LLC now owns 447 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 410 shares in the last quarter. Nauset Wealth Management. LLC bought a new stake in shares of NovoCure during the 1st quarter valued at about $50,000. Quadrant Capital Group LLC boosted its position in shares of NovoCure by 175.7% during the 1st quarter. Quadrant Capital Group LLC now owns 601 shares of the medical equipment provider’s stock valued at $50,000 after purchasing an additional 383 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in shares of NovoCure by 50.6% during the 1st quarter. Parallel Advisors LLC now owns 673 shares of the medical equipment provider’s stock valued at $57,000 after purchasing an additional 226 shares in the last quarter. Institutional investors and hedge funds own 76.45% of the company’s stock.

Analysts Set New Price Targets

NVCR has been the subject of a number of research analyst reports. Evercore ISI cut NovoCure from an “in-line” rating to an “underperform” rating and set a $55.00 price target for the company. in a report on Tuesday, July 5th. HC Wainwright initiated coverage on NovoCure in a report on Monday, May 16th. They set a “buy” rating and a $115.00 price target for the company. Finally, Piper Sandler lowered their target price on NovoCure from $100.00 to $90.00 in a report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $107.57.

About NovoCure

(Get Rating)

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, Europe, the Middle East, Africa, Japan, and Greater China. Its TTFields devices include Optune for the treatment of glioblastoma; and Optune Lua for the treatment of malignant pleural mesothelioma.

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Insider Buying and Selling by Quarter for NovoCure (NASDAQ:NVCR)

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