NovoCure Limited (NASDAQ:NVCR) was downgraded by Wells Fargo & Company from an “outperform” rating to a “market perform” rating in a research note issued on Wednesday.

Other equities analysts also recently issued reports about the company. Wedbush reaffirmed an “outperform” rating and set a $20.00 price target on shares of NovoCure Limited in a research report on Wednesday. J P Morgan Chase & Co set a $14.00 price target on NovoCure Limited and gave the stock a “buy” rating in a research report on Wednesday, November 2nd. Finally, Zacks Investment Research raised NovoCure Limited from a “sell” rating to a “hold” rating in a research report on Thursday, September 29th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $18.60.

Analyst Recommendations for NovoCure Limited (NASDAQ:NVCR)

NovoCure Limited (NASDAQ:NVCR) traded down 0.352% during trading on Wednesday, hitting $7.075. The stock had a trading volume of 185,088 shares. NovoCure Limited has a 52-week low of $5.95 and a 52-week high of $22.49. The company’s 50 day moving average is $8.46 and its 200 day moving average is $8.71. The firm’s market cap is $613.97 million.

NovoCure Limited (NASDAQ:NVCR) last posted its earnings results on Wednesday, November 2nd. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.03. NovoCure Limited had a negative return on equity of 69.89% and a negative net margin of 219.29%. Equities research analysts forecast that NovoCure Limited will post ($1.62) earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This piece was originally reported by Daily Political and is the sole property of of Daily Political. If you are reading this piece on another domain, it was illegally stolen and reposted in violation of US and international copyright and trademark law. The correct version of this piece can be accessed at http://www.dailypolitical.com/2017/01/13/novocure-limited-nvcr-stock-rating-lowered-by-wells-fargo-company.html.

In related news, COO Michael J. Ambrogi sold 10,000 shares of the company’s stock in a transaction on Thursday, December 8th. The stock was sold at an average price of $8.30, for a total value of $83,000.00. Following the transaction, the chief operating officer now directly owns 299,084 shares of the company’s stock, valued at approximately $2,482,397.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Michael J. Ambrogi sold 15,000 shares of the company’s stock in a transaction on Monday, December 12th. The shares were sold at an average price of $9.01, for a total value of $135,150.00. Following the completion of the transaction, the chief operating officer now directly owns 289,084 shares in the company, valued at $2,604,646.84. The disclosure for this sale can be found here. 33.90% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in NVCR. TIAA CREF Investment Management LLC increased its position in NovoCure Limited by 0.5% in the third quarter. TIAA CREF Investment Management LLC now owns 153,952 shares of the company’s stock valued at $1,315,000 after buying an additional 825 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of NovoCure Limited by 0.8% in the third quarter. California State Teachers Retirement System now owns 107,109 shares of the company’s stock valued at $915,000 after buying an additional 900 shares in the last quarter. BlackRock Group LTD increased its stake in shares of NovoCure Limited by 9.6% in the third quarter. BlackRock Group LTD now owns 12,873 shares of the company’s stock valued at $110,000 after buying an additional 1,125 shares in the last quarter. BlackRock Advisors LLC increased its stake in shares of NovoCure Limited by 10.6% in the third quarter. BlackRock Advisors LLC now owns 18,335 shares of the company’s stock valued at $157,000 after buying an additional 1,751 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of NovoCure Limited by 19.0% in the third quarter. Rhumbline Advisers now owns 47,079 shares of the company’s stock valued at $402,000 after buying an additional 7,508 shares in the last quarter. 21.87% of the stock is currently owned by hedge funds and other institutional investors.

About NovoCure Limited

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.

5 Day Chart for NASDAQ:NVCR

Receive News & Ratings for NovoCure Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NovoCure Limited and related companies with MarketBeat.com's FREE daily email newsletter.