NovoCure (NASDAQ:NVCR) CEO Sells $74,629.17 in Stock

NovoCure Limited (NASDAQ:NVCR) CEO Frank Leonard sold 5,607 shares of NovoCure stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $13.31, for a total value of $74,629.17. Following the sale, the chief executive officer directly owned 493,793 shares of the company’s stock, valued at approximately $6,572,384.83. This represents a 1.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

NovoCure Stock Performance

NVCR traded up $0.81 during trading on Thursday, reaching $14.23. 2,315,394 shares of the company’s stock were exchanged, compared to its average volume of 2,231,897. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.90 and a quick ratio of 1.50. The company’s fifty day simple moving average is $12.73 and its 200-day simple moving average is $12.70. NovoCure Limited has a 1 year low of $9.82 and a 1 year high of $21.55. The stock has a market capitalization of $1.62 billion, a P/E ratio of -11.66 and a beta of 0.71.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings data on Thursday, February 26th. The medical equipment provider reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.19. The business had revenue of $174.35 million during the quarter, compared to analysts’ expectations of $174.40 million. NovoCure had a negative return on equity of 39.11% and a negative net margin of 20.79%.The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.61) EPS. As a group, research analysts predict that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NVCR shares. Evercore set a $20.00 price target on NovoCure in a research report on Monday, January 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of NovoCure in a report on Thursday, January 22nd. HC Wainwright increased their price objective on shares of NovoCure from $47.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Finally, Wedbush reissued a “neutral” rating and set a $18.00 target price on shares of NovoCure in a research note on Thursday, January 15th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $26.93.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Arizona State Retirement System increased its holdings in NovoCure by 3.0% in the 3rd quarter. Arizona State Retirement System now owns 31,313 shares of the medical equipment provider’s stock valued at $405,000 after purchasing an additional 916 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of NovoCure by 25.2% in the fourth quarter. Larson Financial Group LLC now owns 5,133 shares of the medical equipment provider’s stock valued at $66,000 after purchasing an additional 1,033 shares during the period. Alliancebernstein L.P. increased its stake in NovoCure by 0.8% during the 3rd quarter. Alliancebernstein L.P. now owns 137,106 shares of the medical equipment provider’s stock worth $1,771,000 after buying an additional 1,076 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in NovoCure by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,442 shares of the medical equipment provider’s stock worth $70,000 after buying an additional 1,120 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in NovoCure by 14.9% in the 4th quarter. Royal Bank of Canada now owns 12,830 shares of the medical equipment provider’s stock valued at $166,000 after buying an additional 1,667 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

NovoCure Company Profile

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.