W Anthony Vernon Sells 964 Shares of NovoCure Limited (NASDAQ:NVCR) Stock

NovoCure Limited (NASDAQ:NVCRGet Free Report) Director W Anthony Vernon sold 964 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $23.89, for a total transaction of $23,029.96. Following the sale, the director now owns 164,833 shares of the company’s stock, valued at $3,937,860.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

NovoCure Trading Down 2.9 %

Shares of NASDAQ:NVCR opened at $21.50 on Friday. The firm has a fifty day moving average of $17.15 and a two-hundred day moving average of $15.23. The company has a quick ratio of 5.99, a current ratio of 6.26 and a debt-to-equity ratio of 1.59. NovoCure Limited has a 12-month low of $10.87 and a 12-month high of $48.32. The firm has a market capitalization of $2.31 billion, a P/E ratio of -11.88 and a beta of 0.78.

NovoCure (NASDAQ:NVCRGet Free Report) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.07. The firm had revenue of $138.50 million for the quarter, compared to the consensus estimate of $131.44 million. NovoCure had a negative return on equity of 50.35% and a negative net margin of 36.67%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.50) earnings per share. On average, equities analysts expect that NovoCure Limited will post -1.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NVCR. JPMorgan Chase & Co. increased their price objective on NovoCure from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Wedbush reaffirmed an “outperform” rating and set a $24.00 target price (up from $21.00) on shares of NovoCure in a report on Monday, June 3rd. Wells Fargo & Company dropped their price target on NovoCure from $49.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $28.00 price objective (up from $25.00) on shares of NovoCure in a research note on Wednesday, April 10th. Finally, Evercore ISI lifted their target price on shares of NovoCure from $14.00 to $15.00 and gave the stock an “in-line” rating in a research report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $31.25.

View Our Latest Stock Report on NVCR

Institutional Trading of NovoCure

A number of institutional investors have recently added to or reduced their stakes in NVCR. GAMMA Investing LLC raised its holdings in shares of NovoCure by 278.0% during 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 in the last quarter. Canada Pension Plan Investment Board bought a new position in NovoCure during the third quarter valued at about $74,000. Daiwa Securities Group Inc. lifted its position in shares of NovoCure by 1,113.7% in the first quarter. Daiwa Securities Group Inc. now owns 5,122 shares of the medical equipment provider’s stock worth $80,000 after buying an additional 4,700 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of NovoCure during the 3rd quarter worth about $85,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of NovoCure by 36.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,522 shares of the medical equipment provider’s stock worth $89,000 after acquiring an additional 1,461 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

About NovoCure

(Get Free Report)

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.

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