NovoCure Ltd. (NVCR) Trading 3.4% Higher
NovoCure Ltd. (NASDAQ:NVCR) shares traded 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. The stock had previously closed at $7.76.
Several research analysts recently commented on the stock. JMP Securities cut their price objective on shares of NovoCure from $43.00 to $34.00 and set a “market outperform” rating for the company in a report on Friday, July 29th. Wedbush reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of NovoCure in a report on Tuesday, May 10th. Barclays PLC cut their price objective on shares of NovoCure from $12.00 to $9.00 and set an “underweight” rating for the company in a report on Friday, July 29th. Deutsche Bank AG cut their price objective on shares of NovoCure from $28.00 to $16.00 and set a “hold” rating for the company in a report on Friday, July 29th. Finally, Zacks Investment Research downgraded shares of NovoCure from a “hold” rating to a “sell” rating in a report on Friday, May 13th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $21.43.
The stock’s market capitalization is $684.48 million. The company’s 50-day moving average is $9.78 and its 200 day moving average is $11.94.
NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.37) by $0.11. The firm had revenue of $17.90 million for the quarter, compared to analysts’ expectations of $15.90 million. On average, analysts anticipate that NovoCure Ltd. will post ($1.82) earnings per share for the current year.
In other news, COO Michael J. Ambrogi sold 20,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 324,084 shares of the company’s stock, valued at $3,966,788.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gert L. Perlhagen sold 676,576 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $1.85, for a total transaction of $1,251,665.60. Following the transaction, the director now directly owns 676,576 shares of the company’s stock, valued at $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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