Novocure Ltd (NASDAQ:NVCR) COO Michael J. Ambrogi sold 8,458 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $19.83, for a total transaction of $167,722.14. Following the completion of the sale, the chief operating officer now directly owns 105,288 shares of the company’s stock, valued at approximately $2,087,861.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Novocure Ltd (NASDAQ:NVCR) opened at $22.40 on Wednesday. The company has a market capitalization of $2,040.00 and a PE ratio of -20.55. Novocure Ltd has a 52-week low of $6.75 and a 52-week high of $24.15. The company has a debt-to-equity ratio of 0.86, a quick ratio of 4.44 and a current ratio of 4.88.
Novocure (NASDAQ:NVCR) last posted its quarterly earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.02. The company had revenue of $53.66 million during the quarter, compared to analysts’ expectations of $53.17 million. Novocure had a negative return on equity of 51.74% and a negative net margin of 34.83%. The firm’s revenue was up 77.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.26) EPS. analysts expect that Novocure Ltd will post -0.5 earnings per share for the current year.
NVCR has been the topic of a number of recent research reports. Mizuho restated a “buy” rating and set a $25.00 target price on shares of Novocure in a research note on Friday, December 1st. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Novocure in a research note on Monday, November 20th. Zacks Investment Research upgraded shares of Novocure from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Wednesday, January 3rd. BidaskClub lowered shares of Novocure from a “hold” rating to a “sell” rating in a research report on Thursday, February 15th. Finally, Deutsche Bank decreased their price target on Novocure from $22.00 to $19.00 and set a “hold” rating for the company in a report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $21.50.
Novocure Company Profile
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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