NovoCure Limited (NASDAQ:NVCR) Short Interest Up 20.0% in December

NovoCure Limited (NASDAQ:NVCR) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totaling 8,333,839 shares, an increase of 20.0% from the December 15th total of 6,943,501 shares. Based on an average daily volume of 1,066,364 shares, the short-interest ratio is presently 7.8 days. Currently, 7.9% of the company’s stock are short sold. Currently, 7.9% of the company’s stock are short sold. Based on an average daily volume of 1,066,364 shares, the short-interest ratio is presently 7.8 days.

NovoCure Stock Performance

Shares of NVCR stock traded down $0.62 during trading hours on Tuesday, reaching $13.02. 869,334 shares of the company’s stock were exchanged, compared to its average volume of 1,237,678. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.55 and a quick ratio of 1.50. The company’s 50 day moving average is $12.82 and its two-hundred day moving average is $13.10. The company has a market cap of $1.46 billion, a P/E ratio of -8.09 and a beta of 0.73. NovoCure has a 1 year low of $10.70 and a 1 year high of $27.47.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, October 30th. The medical equipment provider reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. The firm had revenue of $167.20 million for the quarter, compared to analyst estimates of $158.81 million. NovoCure had a negative return on equity of 50.29% and a negative net margin of 27.66%.NovoCure’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.28) earnings per share. Equities research analysts anticipate that NovoCure will post -1.3 EPS for the current fiscal year.

Institutional Investors Weigh In On NovoCure

Institutional investors and hedge funds have recently modified their holdings of the company. Soleus Capital Management L.P. grew its holdings in NovoCure by 25.0% in the second quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider’s stock valued at $122,897,000 after purchasing an additional 1,382,888 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in shares of NovoCure by 38.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,270,076 shares of the medical equipment provider’s stock worth $40,407,000 after buying an additional 634,925 shares in the last quarter. Quantinno Capital Management LP grew its stake in NovoCure by 38.5% in the 2nd quarter. Quantinno Capital Management LP now owns 1,368,663 shares of the medical equipment provider’s stock valued at $24,362,000 after acquiring an additional 380,411 shares during the last quarter. Millennium Management LLC grew its stake in NovoCure by 106.5% in the 3rd quarter. Millennium Management LLC now owns 1,335,490 shares of the medical equipment provider’s stock valued at $17,255,000 after acquiring an additional 688,710 shares during the last quarter. Finally, Palo Alto Investors LP increased its holdings in NovoCure by 30.5% during the 3rd quarter. Palo Alto Investors LP now owns 1,256,159 shares of the medical equipment provider’s stock valued at $16,230,000 after acquiring an additional 293,763 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

NVCR has been the subject of several research analyst reports. Wedbush restated a “neutral” rating and issued a $18.00 target price on shares of NovoCure in a report on Thursday, January 15th. Weiss Ratings restated a “sell (e+)” rating on shares of NovoCure in a research note on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price objective on NovoCure from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. HC Wainwright reduced their price target on shares of NovoCure from $42.00 to $39.00 and set a “buy” rating for the company in a research report on Tuesday, January 13th. Finally, Evercore ISI set a $20.00 target price on shares of NovoCure in a research note on Monday, January 5th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $25.50.

NovoCure Company Profile

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.