NovoCure Ltd. (NVCR) Stock Price Down 2.4%
NovoCure Ltd. (NASDAQ:NVCR) fell 2.4% during trading on Thursday . The company traded as low as $11.61 and last traded at $11.67, with a volume of 245,383 shares traded. The stock had previously closed at $11.96.
A number of brokerages have recently commented on NVCR. Zacks Investment Research cut shares of NovoCure from a “hold” rating to a “sell” rating in a research note on Friday, May 13th. Wedbush reiterated an “outperform” rating and set a $30.00 target price on shares of NovoCure in a research report on Tuesday, May 10th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $28.57.
The stock’s market cap is $977.88 million. The firm’s 50-day moving average price is $11.42 and its 200 day moving average price is $13.49.
NovoCure (NASDAQ:NVCR) last issued its quarterly earnings data on Monday, May 9th. The company reported ($0.42) earnings per share 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. Equities research analysts forecast that NovoCure Ltd. will post ($1.38) earnings per share for the current fiscal year.
In other NovoCure news, COO Michael J. Ambrogi sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $12.24, for a total value of $244,800.00. Following the completion of the sale, the chief operating officer now owns 324,084 shares in the company, valued at $3,966,788.16. The sale was disclosed in a document filed with the SEC, which is available through this link.
A number of large investors have recently modified their holdings of the stock. Hartline Investment Corp purchased a new stake in shares of NovoCure during the fourth quarter worth $1,143,000. Century Capital Management LLC purchased a new stake in shares of NovoCure during the fourth quarter worth $2,970,000. Finally, Morgan Stanley purchased a new stake in shares of NovoCure during the fourth quarter worth $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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