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

Shares of NovoCure Limited (NASDAQ:NVCR) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty 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 changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NVCR shares. Piper Sandler reaffirmed an “overweight” rating and issued a $28.00 price target (up previously from $25.00) on shares of NovoCure in a research report on Wednesday, April 10th. Wedbush reaffirmed a “neutral” rating and issued a $21.00 price target on shares of NovoCure in a research report on Wednesday, March 27th. HC Wainwright increased their price target on NovoCure from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, March 27th. Evercore ISI raised their target price on NovoCure from $14.00 to $15.00 and gave the stock an “in-line” rating in a research report on Friday, February 23rd. Finally, Wells Fargo & Company cut their target price on NovoCure from $49.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $31.13.

NovoCure Stock Up 2.4 %

The company has a debt-to-equity ratio of 1.57, a quick ratio of 5.56 and a current ratio of 5.78. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -6.33 and a beta of 0.42. The firm has a 50-day moving average price of $14.57 and a two-hundred day moving average price of $13.94.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.08. The firm had revenue of $133.80 million for the quarter, compared to the consensus estimate of $133.80 million. NovoCure had a negative return on equity of 51.63% and a negative net margin of 40.65%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.36) EPS. On average, sell-side analysts forecast that NovoCure Limited will post -1.78 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Frank X. Leonard sold 1,679 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $16.03, for a total transaction of $26,914.37. Following the transaction, the executive vice president now owns 160,938 shares in the company, valued at approximately $2,579,836.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other NovoCure news, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of NovoCure stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 252,452 shares in the company, valued at approximately $4,046,805.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Frank X. Leonard sold 1,679 shares of NovoCure stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $16.03, for a total value of $26,914.37. Following the completion of the transaction, the executive vice president now owns 160,938 shares in the company, valued at $2,579,836.14. The disclosure for this sale can be found here. Insiders have sold 7,921 shares of company stock worth $127,161 in the last quarter. 5.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. UMB Bank n.a. purchased a new position in shares of NovoCure in the 3rd quarter valued at approximately $26,000. China Universal Asset Management Co. Ltd. grew its stake in shares of NovoCure by 96.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,739 shares of the medical equipment provider’s stock valued at $44,000 after purchasing an additional 1,347 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of NovoCure by 278.0% in the 1st quarter. GAMMA Investing LLC now owns 2,880 shares of the medical equipment provider’s stock valued at $45,000 after purchasing an additional 2,118 shares during the last quarter. CWM LLC grew its stake in shares of NovoCure by 127.9% in the 3rd quarter. CWM LLC now owns 3,891 shares of the medical equipment provider’s stock valued at $63,000 after purchasing an additional 2,184 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of NovoCure in the 3rd quarter valued at approximately $74,000. 84.61% of the stock is currently owned by hedge funds and other 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.