NovoCure Limited (NVCR) CTO Sells $653,400.00 in Stock
NovoCure Limited (NASDAQ:NVCR) CTO Yoram Palti sold 30,000 shares of the stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $21.78, for a total value of $653,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
NovoCure Limited (NASDAQ NVCR) traded down $0.30 on Monday, reaching $21.50. The company’s stock had a trading volume of 567,319 shares, compared to its average volume of 1,100,000. The company has a quick ratio of 5.30, a current ratio of 5.90 and a debt-to-equity ratio of 0.83. NovoCure Limited has a 12-month low of $6.00 and a 12-month high of $22.30.
NovoCure Limited (NASDAQ:NVCR) last released its earnings results on Thursday, October 26th. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.07. The company had revenue of $50.10 million for the quarter, compared to analysts’ expectations of $43.45 million. NovoCure Limited had a negative return on equity of 57.68% and a negative net margin of 47.45%. The firm’s quarterly revenue was up 130.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.39) EPS. equities research analysts expect that NovoCure Limited will post -0.63 earnings per share for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of NVCR. Goldman Sachs Group Inc. lifted its stake in NovoCure Limited by 6,617.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,988,007 shares of the medical equipment provider’s stock valued at $86,293,000 after buying an additional 4,913,755 shares in the last quarter. FMR LLC raised its position in shares of NovoCure Limited by 50.4% in the 2nd quarter. FMR LLC now owns 6,888,120 shares of the medical equipment provider’s stock worth $119,165,000 after buying an additional 2,309,559 shares during the period. Vanguard Group Inc. raised its position in shares of NovoCure Limited by 40.5% in the 2nd quarter. Vanguard Group Inc. now owns 4,283,862 shares of the medical equipment provider’s stock worth $74,111,000 after buying an additional 1,235,922 shares during the period. Frontier Capital Management Co. LLC purchased a new position in shares of NovoCure Limited in the 2nd quarter worth $14,308,000. Finally, PointState Capital LP acquired a new stake in NovoCure Limited in the 2nd quarter valued at $5,744,000. 35.88% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently weighed in on the company. Zacks Investment Research raised NovoCure Limited from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Tuesday, October 31st. Wedbush reissued an “outperform” rating and issued a $25.00 price objective (down from $29.00) on shares of NovoCure Limited in a report on Friday, October 27th. BidaskClub lowered NovoCure Limited from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Deutsche Bank AG restated a “hold” rating and issued a $19.00 target price (up previously from $18.00) on shares of NovoCure Limited in a research report on Monday, July 17th. Finally, Mizuho initiated coverage on NovoCure Limited in a research report on Wednesday, September 6th. They issued a “buy” rating and a $25.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $21.00.
NovoCure Limited Company Profile
NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.
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