NovoCure (NASDAQ:NVCR) Stock Price Down 7.5% – What’s Next?

NovoCure Limited (NASDAQ:NVCR) shares were down 7.5% during trading on Tuesday . The stock traded as low as $17.06 and last traded at $16.60. Approximately 400,337 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 1,699,297 shares. The stock had previously closed at $17.94.

Wall Street Analyst Weigh In

NVCR has been the topic of several recent research reports. HC Wainwright set a $32.00 target price on NovoCure in a research report on Friday, July 24th. Wall Street Zen lowered shares of NovoCure from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Weiss Ratings restated a “sell (d-)” rating on shares of NovoCure in a research report on Thursday, August 27th. JPMorgan Chase & Co. started coverage on NovoCure in a research note on Monday, July 13th. They issued a “neutral” rating and a $17.00 target price on the stock. Finally, Wedbush upped their price objective on NovoCure from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued 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 $21.20.

NovoCure Stock Down 7.2%

The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.70 and a current ratio of 2.89. The stock’s 50 day moving average price is $16.88 and its 200-day moving average price is $15.10. The company has a market cap of $1.94 billion, a PE ratio of -12.83 and a beta of 1.01.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings results on Thursday, July 23rd. The medical equipment provider reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.20. NovoCure had a negative net margin of 21.25% and a negative return on equity of 44.00%. The business had revenue of $183.58 million during the quarter, compared to the consensus estimate of $172.44 million. During the same period in the previous year, the firm posted ($0.36) earnings per share. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, analysts predict that NovoCure Limited will post -1.21 earnings per share for the current year.

Institutional Trading of NovoCure

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Morgan Stanley grew its stake in shares of NovoCure by 453.4% in the fourth quarter. Morgan Stanley now owns 5,069,895 shares of the medical equipment provider’s stock worth $65,554,000 after purchasing an additional 4,153,741 shares during the last quarter. California State Teachers Retirement System raised its position in NovoCure by 1,144.4% during the 2nd quarter. California State Teachers Retirement System now owns 1,774,004 shares of the medical equipment provider’s stock valued at $26,876,000 after purchasing an additional 1,631,443 shares during the last quarter. Soleus Capital Management L.P. raised its position in NovoCure by 25.0% during the 2nd quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider’s stock valued at $122,897,000 after purchasing an additional 1,382,888 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in NovoCure by 1,093.2% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,223,755 shares of the medical equipment provider’s stock worth $15,823,000 after buying an additional 1,121,192 shares during the period. Finally, SG Americas Securities LLC grew its position in shares of NovoCure by 346.7% in the 1st quarter. SG Americas Securities LLC now owns 1,245,541 shares of the medical equipment provider’s stock worth $13,576,000 after buying an additional 966,735 shares during the last quarter. 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.