NovoCure Ltd. (NASDAQ:NVCR)’s share price traded down 2.4% during mid-day trading on Thursday . The stock traded as low as $11.61 and last traded at $11.67, with a volume of 245,383 shares changing hands. The stock had previously closed at $11.96.

Several equities analysts have recently issued reports on the stock. Wedbush restated an “outperform” rating and set a $30.00 price objective on shares of NovoCure in a report on Wednesday, July 6th. Zacks Investment Research downgraded shares of NovoCure from a “hold” rating to a “sell” rating in a 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. The stock presently has an average rating of “Hold” and a consensus target price of $28.57.

The stock’s market capitalization is $995.63 million. The firm’s 50-day moving average is $11.42 and its 200-day moving average is $13.59.

NovoCure (NASDAQ:NVCR) last posted its earnings results 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 earned $13.10 million during the quarter, compared to the consensus estimate of $23.65 million. On average, analysts anticipate that NovoCure Ltd. will post ($1.38) earnings per share for the current year.

In other NovoCure news, COO Michael J. Ambrogi sold 20,000 shares of the business’s stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $12.24, for a total transaction of $244,800.00. Following the sale, the chief operating officer now directly owns 324,084 shares in the company, valued at $3,966,788.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Several hedge funds recently modified their holdings of NVCR. Morgan Stanley bought a new stake in shares of NovoCure during the fourth quarter valued at about $9,619,000. Century Capital Management LLC bought a new stake in shares of NovoCure during the fourth quarter valued at about $2,970,000. Finally, Hartline Investment Corp bought a new stake in shares of NovoCure during the fourth quarter valued at about $1,143,000.

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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