NovoCure Ltd. (NVCR) Stock Price Up 3.7%
NovoCure Ltd. (NASDAQ:NVCR) shares rose 3.7% on Friday . The stock traded as high as $8.09 and last traded at $8.04, with a volume of 149,998 shares traded. The stock had previously closed at $7.75.
NVCR has been the topic of several research analyst reports. Zacks Investment Research cut shares of NovoCure from a “hold” rating to a “sell” rating in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. reduced their price target on shares of NovoCure from $29.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, July 29th. Wedbush reiterated an “outperform” rating and set a $30.00 price target on shares of NovoCure in a research report on Wednesday, July 6th. Deutsche Bank AG reduced their price target on shares of NovoCure from $28.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, July 29th. Finally, Barclays PLC reduced their price target on shares of NovoCure from $12.00 to $9.00 and set an “underweight” rating on the stock in a research report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $21.43.
The firm’s 50 day moving average price is $8.80 and its 200-day moving average price is $11.68. The company’s market capitalization is $690.48 million.
NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.48) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.37) by $0.11. The firm earned $17.90 million during the quarter, compared to analysts’ expectations of $15.90 million. On average, equities research analysts forecast that NovoCure Ltd. will post ($1.74) EPS for the current year.
In other news, COO Michael J. Ambrogi sold 20,000 shares of NovoCure stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $12.24, for a total transaction of $244,800.00. Following the transaction, the chief operating officer now directly owns 324,084 shares of the company’s stock, valued at approximately $3,966,788.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gert L. Perlhagen sold 676,576 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 676,576 shares in the company, 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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