Novocure Ltd (NVCR) Director Buys $866,250.00 in Stock
Novocure Ltd (NASDAQ:NVCR) Director Gert L. Perlhagen purchased 125,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 14th. The stock was bought at an average price of $6.93 per share, with a total value of $866,250.00. Following the purchase, the director now owns 6,125,000 shares of the company’s stock, valued at approximately $42,446,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Novocure Ltd (NASDAQ:NVCR) opened at 7.40 on Tuesday. The firm’s 50-day moving average is $7.16 and its 200 day moving average is $7.78. The company’s market cap is $644.33 million. Novocure Ltd has a 1-year low of $5.95 and a 1-year high of $17.00.
Novocure (NASDAQ:NVCR) last announced its earnings results on Thursday, February 23rd. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.13. The firm earned $30.20 million during the quarter, compared to analysts’ expectations of $26.95 million. Novocure had a negative return on equity of 69.89% and a negative net margin of 219.29%. Equities analysts expect that Novocure Ltd will post ($0.99) EPS for the current fiscal year.
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A number of analysts recently issued reports on the stock. Wedbush restated an “outperform” rating and issued a $20.00 price target on shares of Novocure in a research note on Tuesday, December 13th. Zacks Investment Research upgraded shares of Novocure from a “sell” rating to a “hold” rating in a research note on Tuesday, February 28th. Wells Fargo & Co lowered shares of Novocure from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 11th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and set a $14.00 target price on shares of Novocure in a research note on Sunday, February 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $16.79.
Large investors have recently made changes to their positions in the company. Flinton Capital Management LLC bought a new stake in shares of Novocure during the fourth quarter worth about $111,000. Hartline Investment Corp boosted its stake in shares of Novocure by 69.4% in the third quarter. Hartline Investment Corp now owns 140,941 shares of the company’s stock worth $1,204,000 after buying an additional 57,751 shares during the last quarter. Highline Capital Management L.P. boosted its stake in shares of Novocure by 3.5% in the third quarter. Highline Capital Management L.P. now owns 1,818,079 shares of the company’s stock worth $15,526,000 after buying an additional 62,200 shares during the last quarter. Courage Capital Management LLC bought a new stake in shares of Novocure during the third quarter worth about $4,270,000. Finally, Tamarack Advisers LP bought a new stake in shares of Novocure during the third quarter worth about $6,557,000. 21.98% of the stock is owned by hedge funds and other institutional investors.
Novocure Company Profile
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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