NovoCure Ltd. (NVCR) Shares Up 3.4%
NovoCure Ltd. (NASDAQ:NVCR) shares shot up 3.4% during trading on Thursday . The stock traded as high as $8.14 and last traded at $8.02, with a volume of 158,955 shares traded. The stock had previously closed at $7.76.
A number of analysts have recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $30.00 price target on shares of NovoCure in a research note on Tuesday, May 10th. Zacks Investment Research lowered shares of NovoCure from a “hold” rating to a “sell” rating in a research note on Friday, May 13th. Barclays PLC reduced their price target on shares of NovoCure from $12.00 to $9.00 and set an “underweight” rating for the company in a research note on Friday, July 29th. Deutsche Bank AG reduced their price target on shares of NovoCure from $28.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, July 29th. Finally, JMP Securities reduced their price target on shares of NovoCure from $43.00 to $34.00 and set a “market outperform” rating for the company in a research note on Friday, July 29th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. NovoCure presently has an average rating of “Hold” and an average target price of $21.43.
The firm’s market capitalization is $687.91 million. The company’s 50 day moving average is $9.98 and its 200-day moving average is $11.99.
NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by $0.11. The firm had revenue of $17.90 million for the quarter, compared to the consensus estimate of $15.90 million. On average, equities research analysts predict that NovoCure Ltd. will post ($1.95) EPS for the current year.
In related news, COO Michael J. Ambrogi sold 20,000 shares of the stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $12.24, for a total transaction of $244,800.00. Following the completion of the sale, the chief operating officer now owns 324,084 shares in the company, valued at approximately $3,966,788.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gert L. Perlhagen sold 676,576 shares of the stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $1.85, for a total transaction of $1,251,665.60. Following the sale, the director now owns 676,576 shares of the company’s stock, valued at approximately $1,251,665.60. The disclosure for this sale can be found here.
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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