NovoCure Ltd. (NVCR) Stock Price Up 7.6%
NovoCure Ltd. (NASDAQ:NVCR) shares rose 7.6% during mid-day trading on Friday . The company traded as high as $11.77 and last traded at $11.71, with a volume of 134,346 shares changing hands. The stock had previously closed at $10.88.
NVCR has been the subject of a number of research reports. Wedbush restated an “outperform” rating and set a $30.00 target price on shares of NovoCure in a research report on Wednesday. Zacks Investment Research downgraded shares of NovoCure from a “hold” rating to a “sell” rating in a research report on Friday, May 13th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $28.57.
The stock’s market capitalization is $987.89 million. The firm’s 50-day moving average price is $11.36 and its 200-day moving average price is $14.04.
NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Monday, May 9th. The company reported ($0.42) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.33) by $0.09. The business had revenue of $13.10 million for the quarter, compared to the consensus estimate of $23.65 million. Equities analysts expect that NovoCure Ltd. will post ($1.38) EPS for the current fiscal year.
In other NovoCure news, COO Michael J. Ambrogi sold 20,000 shares of the stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $12.24, for a total value of $244,800.00. Following the sale, the chief operating officer now directly owns 324,084 shares of the company’s stock, valued at approximately $3,966,788.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Several large investors have recently made changes to their positions in the stock. Hartline Investment Corp purchased a new stake in shares of NovoCure during the fourth quarter worth approximately $1,143,000. Century Capital Management LLC purchased a new stake in shares of NovoCure during the fourth quarter worth approximately $2,970,000. Finally, Morgan Stanley purchased a new stake in shares of NovoCure during the fourth quarter worth approximately $9,619,000.
NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a therapy called TTFields for the treatment of solid tumor cancers. TTFields is a low-toxicity anti-mitotic treatment that uses low-intensity, intermediate frequency, alternating electric fields to exert physical forces on molecules inside cancer cells, disrupting the basic machinery for normal cell division, leading to cancer cell death.
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