NovoCure Ltd. (NVCR) Sees Unusually-High Trading Volume
NovoCure Ltd. (NASDAQ:NVCR) saw unusually-strong trading volume on Thursday . Approximately 459,197 shares changed hands during trading, an increase of 84% from the previous session’s volume of 249,292 shares.The stock last traded at $7.75 and had previously closed at $7.68.
Several equities research analysts have recently commented on NVCR shares. Wedbush reaffirmed an “outperform” rating and set a $30.00 price target on shares of NovoCure in a research report on Tuesday, May 10th. Zacks Investment Research lowered shares of NovoCure from a “hold” rating to a “sell” rating in a research report 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 report 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 report 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 report on Friday, July 29th. Two equities research 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’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.43.
The firm’s market capitalization is $690.48 million. The firm has a 50-day moving average of $8.80 and a 200-day moving average of $11.68.
NovoCure (NASDAQ:NVCR) last issued its quarterly earnings results 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 business earned $17.90 million during the quarter, compared to analyst estimates of $15.90 million. Analysts anticipate that NovoCure Ltd. will post ($1.74) earnings per share 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 dated 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 of the company’s stock, valued at $3,966,788.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gert L. Perlhagen sold 676,576 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $1.85, for a total value of $1,251,665.60. Following the completion of the sale, the director now directly 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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