NovoCure (NASDAQ:NVCR) Trading Up 4.1%

NovoCure Limited (NASDAQ:NVCR - Get Free Report) was up 4.1% during trading on Tuesday . The company traded as high as $16.65 and last traded at $16.65. Approximately 221,933 shares traded hands during trading, a decline of 84% from the average daily volume of 1,428,031 shares. The stock had previously closed at $16.00.

Wall Street Analyst Weigh In

Several research firms have commented on NVCR. Piper Sandler reissued an "overweight" rating and set a $28.00 price target (up from $25.00) on shares of NovoCure in a research note on Wednesday, April 10th. HC Wainwright restated a "neutral" rating and set a $22.00 price target on shares of NovoCure in a research report on Tuesday, June 4th. Evercore ISI lifted their price objective on NovoCure from $14.50 to $20.00 and gave the stock an "in-line" rating in a report on Tuesday, July 2nd. Wells Fargo & Company dropped their target price on NovoCure from $49.00 to $42.00 and set an "overweight" rating for the company in a report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. lifted their price target on NovoCure from $15.00 to $17.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 19th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.88.

NovoCure Trading Up 5.1 %

The company has a debt-to-equity ratio of 1.59, a quick ratio of 5.99 and a current ratio of 6.26. The firm has a market capitalization of $1.81 billion, a PE ratio of -9.28 and a beta of 0.70. The stock's 50-day simple moving average is $19.44 and its 200-day simple moving average is $16.16.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.07. The company had revenue of $138.50 million for the quarter, compared to analysts' expectations of $131.44 million. NovoCure had a negative net margin of 36.67% and a negative return on equity of 50.35%. NovoCure's quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.50) earnings per share. As a group, sell-side analysts expect that NovoCure Limited will post -1.59 EPS for the current fiscal year.

Institutional Investors Weigh In On NovoCure

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC purchased a new stake in shares of NovoCure in the 3rd quarter worth about $786,000. Exchange Traded Concepts LLC grew its holdings in NovoCure by 44.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 73,759 shares of the medical equipment provider's stock worth $1,101,000 after purchasing an additional 22,627 shares during the period. SG Americas Securities LLC increased its stake in shares of NovoCure by 42.1% during the fourth quarter. SG Americas Securities LLC now owns 228,591 shares of the medical equipment provider's stock valued at $3,413,000 after purchasing an additional 67,705 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of NovoCure by 351.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,363 shares of the medical equipment provider's stock valued at $185,000 after purchasing an additional 9,624 shares during the last quarter. Finally, Taylor Frigon Capital Management LLC boosted its position in shares of NovoCure by 5.9% in the 4th quarter. Taylor Frigon Capital Management LLC now owns 96,857 shares of the medical equipment provider's stock worth $1,446,000 after purchasing an additional 5,422 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other 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.