NovoCure (NVCR) Stock Price Up 3.3%

NovoCure (NASDAQ:NVCR) shares rose 3.3% during trading on Wednesday . The stock traded as high as $24.00 and last traded at $24.02. Approximately 1,364,726 shares were traded during mid-day trading, an increase of 51% from the average daily volume of 901,605 shares. The stock had previously closed at $23.25.

NVCR has been the subject of several analyst reports. Mizuho reissued a “buy” rating and issued a $28.00 price target (up from $25.00) on shares of NovoCure in a report on Friday, February 23rd. BidaskClub raised shares of NovoCure from a “hold” rating to a “buy” rating in a report on Saturday, January 13th. Zacks Investment Research upgraded shares of NovoCure from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Wednesday, January 3rd. Deutsche Bank upgraded shares of NovoCure from a “hold” rating to a “buy” rating and lowered their price objective for the company from $23.80 to $19.00 in a research report on Thursday. Finally, ValuEngine upgraded shares of NovoCure from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. NovoCure currently has an average rating of “Buy” and a consensus target price of $21.33.

How to Become a New Pot Stock Millionaire

The company has a debt-to-equity ratio of 0.86, a quick ratio of 4.44 and a current ratio of 4.88. The stock has a market cap of $2,101.77, a price-to-earnings ratio of -35.71 and a beta of 3.16.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, February 22nd. The medical equipment provider reported ($0.12) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.02. The firm had revenue of $53.66 million for the quarter, compared to analysts’ expectations of $53.17 million. NovoCure had a negative net margin of 34.83% and a negative return on equity of 51.74%. The business’s quarterly revenue was up 77.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.26) EPS. analysts forecast that NovoCure will post -0.5 earnings per share for the current year.

In related news, insider Yoram Palti sold 60,000 shares of NovoCure stock in a transaction on Tuesday, April 3rd. The shares were sold at an average price of $20.32, for a total value of $1,219,200.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Todd Christopher Longsworth sold 6,591 shares of NovoCure stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $19.83, for a total transaction of $130,699.53. Following the completion of the transaction, the general counsel now owns 26,665 shares in the company, valued at approximately $528,766.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 248,924 shares of company stock worth $5,471,491. Corporate insiders own 16.70% of the company’s stock.

A number of large investors have recently modified their holdings of NVCR. Bank of New York Mellon Corp raised its position in NovoCure by 1.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 203,031 shares of the medical equipment provider’s stock worth $4,030,000 after purchasing an additional 2,724 shares during the period. Russell Investments Group Ltd. grew its holdings in NovoCure by 18.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 24,802 shares of the medical equipment provider’s stock worth $492,000 after acquiring an additional 3,876 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in NovoCure in the 3rd quarter worth $1,163,000. American International Group Inc. grew its holdings in NovoCure by 8.1% in the 3rd quarter. American International Group Inc. now owns 38,722 shares of the medical equipment provider’s stock worth $769,000 after acquiring an additional 2,896 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in NovoCure by 80.6% in the 3rd quarter. Legal & General Group Plc now owns 25,045 shares of the medical equipment provider’s stock worth $502,000 after acquiring an additional 11,179 shares during the last quarter. Institutional investors own 42.83% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “NovoCure (NVCR) Stock Price Up 3.3%” was posted by Week Herald and is owned by of Week Herald. If you are reading this piece on another publication, it was copied illegally and republished in violation of United States and international copyright & trademark legislation. The legal version of this piece can be viewed at https://weekherald.com/2018/04/20/novocure-nvcr-stock-price-up-3-3.html.

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.

Receive News & Ratings for NovoCure Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NovoCure and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply