Key Points
- Director W Anthony Vernon sold 2,945 shares of NovoCure stock on June 2 at an average price of $15.77, totaling about $46,443. The sale was made to cover tax withholding obligations tied to vesting equity awards.
- NovoCure recently reported quarterly earnings of ($0.62) per share, missing analyst expectations, though revenue of $174.06 million came in above estimates and rose 12.3% year over year.
- Analyst views remain mixed: the stock currently carries an average Hold rating with an average target price of $27.29, while institutional ownership remains high at 84.61%.
NovoCure Limited (NASDAQ:NVCR - Get Free Report) Director W Anthony Vernon sold 2,945 shares of the company's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total value of $46,442.65. Following the completion of the transaction, the director directly owned 197,657 shares in the company, valued at approximately $3,117,050.89. This represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
NovoCure Stock Performance
Shares of NASDAQ NVCR opened at $16.15 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.90 and a quick ratio of 2.70. The stock's fifty day moving average price is $14.16 and its two-hundred day moving average price is $13.14. NovoCure Limited has a one year low of $9.82 and a one year high of $19.25. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of -10.56 and a beta of 0.93.
NovoCure (NASDAQ:NVCR - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported ($0.62) EPS for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.11). NovoCure had a negative net margin of 25.66% and a negative return on equity of 50.82%. The firm had revenue of $174.06 million during the quarter, compared to analyst estimates of $167.77 million. During the same period in the prior year, the company earned ($0.31) earnings per share. The business's quarterly revenue was up 12.3% compared to the same quarter last year. On average, equities analysts forecast that NovoCure Limited will post -1.55 EPS for the current year.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on NVCR. Weiss Ratings raised shares of NovoCure from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday. HC Wainwright raised their target price on shares of NovoCure from $47.00 to $49.00 and gave the stock a "buy" rating in a report on Thursday, February 26th. Evercore reaffirmed an "outperform" rating on shares of NovoCure in a report on Friday, May 1st. Wedbush reissued a "neutral" rating and set a $18.00 target price on shares of NovoCure in a report on Thursday, April 16th. Finally, Wells Fargo & Company increased their target price on NovoCure from $13.50 to $17.00 and gave the stock an "equal weight" rating in a report on Monday, May 4th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, NovoCure currently has an average rating of "Hold" and an average target price of $27.29.
Read Our Latest Analysis on NVCR
Institutional Trading of NovoCure
Large investors have recently modified their holdings of the stock. Empowered Funds LLC acquired a new stake in shares of NovoCure during the 4th quarter worth $33,000. Kestra Advisory Services LLC acquired a new stake in shares of NovoCure during the 4th quarter worth $49,000. Larson Financial Group LLC grew its holdings in shares of NovoCure by 662.1% during the 3rd quarter. Larson Financial Group LLC now owns 4,100 shares of the medical equipment provider's stock worth $53,000 after purchasing an additional 3,562 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of NovoCure during the 2nd quarter worth $88,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of NovoCure during the 1st quarter worth $87,000. 84.61% of the stock is owned by institutional investors and hedge funds.
NovoCure Company Profile
(
Get Free Report)
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.
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