NovoCure (NASDAQ:NVCR) Trading Down 4%

NovoCure Limited (NASDAQ:NVCR) was down 4% during trading on Thursday . The stock traded as low as $14.87 and last traded at $14.88. Approximately 14,761 shares changed hands during trading, a decline of 99% from the average daily volume of 1,306,946 shares. The stock had previously closed at $15.50.

Analyst Upgrades and Downgrades

Several research analysts have commented on NVCR shares. Evercore ISI dropped their price objective on shares of NovoCure from $21.00 to $18.00 and set an “in-line” rating for the company in a research note on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $24.00 price objective on shares of NovoCure in a research note on Thursday, July 25th. Wells Fargo & Company dropped their price objective on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Finally, HC Wainwright lifted their price objective on shares of NovoCure from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $25.17.

NovoCure Price Performance

The stock has a market capitalization of $1.57 billion, a PE ratio of -8.09 and a beta of 0.71. The company has a quick ratio of 6.22, a current ratio of 6.46 and a debt-to-equity ratio of 1.81. The stock’s 50 day moving average price is $18.15 and its 200-day moving average price is $17.61.

NovoCure (NASDAQ:NVCR) last issued its earnings results on Thursday, July 25th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.09. The firm had revenue of $150.40 million during the quarter, compared to analyst estimates of $135.83 million. NovoCure had a negative net margin of 30.67% and a negative return on equity of 45.68%. The business’s revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.54) earnings per share. As a group, equities analysts forecast that NovoCure Limited will post -1.34 EPS for the current year.

Institutional Trading of NovoCure

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of NovoCure by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 9,759,098 shares of the medical equipment provider’s stock valued at $145,703,000 after acquiring an additional 122,105 shares in the last quarter. Franklin Resources Inc. bought a new stake in shares of NovoCure in the fourth quarter valued at about $811,000. SG Americas Securities LLC raised its holdings in shares of NovoCure by 57.3% in the first quarter. SG Americas Securities LLC now owns 359,518 shares of the medical equipment provider’s stock valued at $5,619,000 after acquiring an additional 130,927 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of NovoCure by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,378,940 shares of the medical equipment provider’s stock valued at $37,184,000 after acquiring an additional 125,715 shares in the last quarter. Finally, Tidal Investments LLC bought a new stake in shares of NovoCure in the first quarter valued at about $695,000. 84.61% of the stock is currently owned by institutional investors.

About NovoCure

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company’s TTFields devices include Optune Gio and Optune Lua.