NovoCure (NASDAQ:NVCR) Stock Price Crosses Above 50-Day Moving Average - What's Next?

NovoCure Limited (NASDAQ:NVCR - Get Free Report)'s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $26.75 and traded as high as $27.11. NovoCure shares last traded at $26.33, with a volume of 834,531 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NVCR shares. Piper Sandler boosted their price objective on NovoCure from $28.00 to $42.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th. HC Wainwright reiterated a "buy" rating and issued a $38.00 price target on shares of NovoCure in a report on Tuesday, January 14th. Wedbush restated a "neutral" rating and set a $29.00 price objective on shares of NovoCure in a report on Monday, January 13th. Finally, Evercore ISI upgraded NovoCure from an "in-line" rating to an "outperform" rating and upped their target price for the stock from $18.00 to $30.00 in a report on Monday, December 2nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, NovoCure currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.67.

NovoCure Stock Down 2.6 %

The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of -18.81 and a beta of 0.64. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. The business's 50 day moving average is $26.96 and its 200 day moving average is $20.84.

NovoCure (NASDAQ:NVCR - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.06. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The business had revenue of $155.10 million during the quarter, compared to the consensus estimate of $143.95 million. During the same period in the previous year, the firm posted ($0.46) earnings per share. The business's revenue for the quarter was up 21.8% compared to the same quarter last year. Sell-side analysts anticipate that NovoCure Limited will post -1.3 earnings per share for the current year.

Institutional Trading of NovoCure

Several large investors have recently added to or reduced their stakes in NVCR. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of NovoCure during the second quarter worth $34,000. Brooklyn Investment Group acquired a new stake in NovoCure during the 3rd quarter worth about $45,000. Blue Trust Inc. raised its stake in shares of NovoCure by 70.7% during the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider's stock valued at $56,000 after buying an additional 781 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of NovoCure by 58.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider's stock valued at $57,000 after buying an additional 1,354 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of NovoCure by 21.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider's stock worth $61,000 after buying an additional 701 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

NovoCure Company Profile

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.