NovoCure Ltd. (NVCR) Stock Price Up 4.1%
NovoCure Ltd. (NASDAQ:NVCR) shares rose 4.1% on Monday . The company traded as high as $12.05 and last traded at $12.04, with a volume of 218,629 shares trading hands. The stock had previously closed at $11.57.
A number of analysts have recently issued reports on NVCR shares. Wedbush reissued an “outperform” rating and set a $30.00 target price on shares of NovoCure in a research note on Tuesday, April 5th. Zacks Investment Research lowered shares of NovoCure from a “hold” rating to a “sell” rating in a research note on Friday, May 13th. 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 stock. The company has an average rating of “Hold” and an average price target of $28.57.
The stock’s market capitalization is $1.01 billion. The company has a 50-day moving average price of $11.44 and a 200 day moving average price of $13.26.
NovoCure (NASDAQ:NVCR) last issued its earnings results on Monday, May 9th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by $0.09. The business earned $13.10 million during the quarter, compared to analyst estimates of $23.65 million. Analysts predict 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 firm’s stock in a transaction 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 directly owns 324,084 shares of the company’s stock, valued at approximately $3,966,788.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Several hedge funds recently modified their holdings of NVCR. Morgan Stanley acquired a new stake in shares of NovoCure during the fourth quarter worth about $9,619,000. Century Capital Management LLC acquired a new stake in shares of NovoCure during the fourth quarter worth about $2,970,000. Finally, Hartline Investment Corp acquired a new stake in shares of NovoCure during the fourth quarter worth 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.