NovoCure Ltd. (NVCR) Stock Price Up 7.6%
NovoCure Ltd. (NASDAQ:NVCR)’s share price rose 7.6% during trading on Friday . The company traded as high as $11.77 and last traded at $11.71, with a volume of 134,346 shares traded. The stock had previously closed at $10.88.
NVCR has been the subject of a number of research reports. Wedbush reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of NovoCure in a report on Wednesday. Zacks Investment Research downgraded shares of NovoCure from a “hold” rating to a “sell” rating in a report on Friday, May 13th. Two 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’s stock. NovoCure currently has a consensus rating of “Hold” and a consensus price target of $28.57.
The stock’s 50-day moving average is $11.37 and its 200 day moving average is $13.92. The stock’s market capitalization is $985.49 million.
NovoCure (NASDAQ:NVCR) last posted its earnings results on Monday, May 9th. The company reported ($0.42) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by $0.09. The company earned $13.10 million during the quarter, compared to analysts’ expectations of $23.65 million. On average, analysts expect that NovoCure Ltd. will post ($1.38) EPS for the current year.
In other news, COO Michael J. Ambrogi sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 8th. The stock was 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 in the company, valued at $3,966,788.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Other hedge funds and institutional investors have modified their holdings of the company. Hartline Investment Corp acquired a new position in shares of NovoCure during the fourth quarter worth approximately $1,143,000. Century Capital Management LLC acquired a new position in shares of NovoCure during the fourth quarter worth approximately $2,970,000. Finally, Morgan Stanley acquired a new position in shares of NovoCure during the fourth quarter worth approximately $9,619,000.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.