NovoCure (NASDAQ:NVCR) Stock Price Down 7.4% – What’s Next?

NovoCure Limited (NASDAQ:NVCR)’s stock price traded down 7.4% during trading on Wednesday . The company traded as low as $16.91 and last traded at $16.9080. 578,361 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 1,782,122 shares. The stock had previously closed at $18.26.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. HC Wainwright lifted their price objective on NovoCure from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Evercore reissued an “outperform” rating on shares of NovoCure in a research report on Friday, May 1st. Weiss Ratings restated a “sell (e+)” rating on shares of NovoCure in a research note on Tuesday, April 21st. Wedbush reaffirmed a “neutral” rating and set a $18.00 price target on shares of NovoCure in a research report on Thursday, April 16th. Finally, Wells Fargo & Company increased their price objective on shares of NovoCure from $13.50 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $27.29.

NovoCure Stock Down 7.1%

The company has a quick ratio of 2.70, a current ratio of 2.90 and a debt-to-equity ratio of 0.71. The company has a fifty day simple moving average of $13.61 and a 200-day simple moving average of $12.92. The firm has a market cap of $1.96 billion, a P/E ratio of -11.08 and a beta of 0.90.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.11). NovoCure had a negative return on equity of 50.82% and a negative net margin of 25.66%.The company had revenue of $174.06 million during the quarter, compared to the consensus estimate of $167.77 million. During the same period last year, the business earned ($0.31) EPS. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, equities analysts anticipate that NovoCure Limited will post -1.55 earnings per share for the current year.

Insider Activity at NovoCure

In other NovoCure news, COO Mukund Paravasthu sold 43,246 shares of NovoCure stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $13.77, for a total transaction of $595,497.42. Following the transaction, the chief operating officer owned 72,832 shares of the company’s stock, valued at $1,002,896.64. The trade was a 37.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Uri Weinberg sold 6,412 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $13.31, for a total transaction of $85,343.72. Following the completion of the transaction, the insider owned 267,190 shares of the company’s stock, valued at approximately $3,556,298.90. The trade was a 2.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 140,041 shares of company stock worth $1,860,116 in the last 90 days. Insiders own 5.52% of the company’s stock.

Institutional Investors Weigh In On NovoCure

A number of institutional investors have recently bought and sold shares of the business. Empowered Funds LLC bought a new stake in NovoCure during the fourth quarter valued at about $33,000. Kestra Advisory Services LLC bought a new position in shares of NovoCure in the fourth quarter worth about $49,000. Larson Financial Group LLC grew its position in shares of NovoCure by 662.1% during the third quarter. Larson Financial Group LLC now owns 4,100 shares of the medical equipment provider’s stock worth $53,000 after purchasing an additional 3,562 shares in the last quarter. Headlands Technologies LLC bought a new stake in NovoCure during the 2nd quarter valued at approximately $88,000. Finally, Acadian Asset Management LLC bought a new stake in NovoCure during the 1st quarter valued at approximately $87,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

About NovoCure

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.