NovoCure (NASDAQ:NVCR) Shares Down 4.1% - Should You Sell?

NovoCure Limited (NASDAQ:NVCR - Get Free Report)'s stock price traded down 4.1% during mid-day trading on Tuesday . The stock traded as low as $19.03 and last traded at $18.98. 86,708 shares traded hands during trading, a decline of 93% from the average session volume of 1,243,584 shares. The stock had previously closed at $19.78.

Wall Street Analysts Forecast Growth

NVCR has been the subject of a number of analyst reports. Evercore ISI raised NovoCure from an "in-line" rating to an "outperform" rating and lifted their price objective for the company from $18.00 to $30.00 in a report on Monday, December 2nd. HC Wainwright reissued a "buy" rating and set a $38.00 target price on shares of NovoCure in a research note on Tuesday, January 14th. Piper Sandler boosted their price target on shares of NovoCure from $28.00 to $42.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. StockNews.com cut NovoCure from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Wedbush reaffirmed a "neutral" rating and set a $29.00 price target on shares of NovoCure in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $35.80.

Remove Ads

NovoCure Trading Down 0.6 %

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 firm has a market capitalization of $2.07 billion, a P/E ratio of -13.47 and a beta of 0.63. The firm has a 50 day simple moving average of $21.72 and a two-hundred day simple moving average of $21.61.

NovoCure (NASDAQ:NVCR - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The medical equipment provider reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.27). NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The business had revenue of $161.27 million for the quarter, compared to analysts' expectations of $161.30 million. Equities research analysts forecast that NovoCure Limited will post -1.3 earnings per share for the current year.

Hedge Funds Weigh In On NovoCure

A number of large investors have recently added to or reduced their stakes in NVCR. Soleus Capital Management L.P. bought a new stake in shares of NovoCure during the fourth quarter valued at approximately $81,643,000. Capital International Investors lifted its holdings in NovoCure by 12.0% in the fourth quarter. Capital International Investors now owns 8,873,902 shares of the medical equipment provider's stock valued at $264,442,000 after acquiring an additional 951,141 shares during the period. Granite Investment Partners LLC purchased a new stake in NovoCure during the fourth quarter valued at approximately $20,464,000. Emerald Advisers LLC purchased a new position in NovoCure during the fourth quarter valued at $16,317,000. Finally, Capital World Investors lifted its stake in shares of NovoCure by 11.8% during the 4th quarter. Capital World Investors now owns 4,815,529 shares of the medical equipment provider's stock valued at $143,503,000 after buying an additional 507,311 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

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.