W Anthony Vernon Sells 2,945 Shares of NovoCure (NASDAQ:NVCR) Stock

NovoCure Limited (NASDAQ:NVCR) 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 $17.99 on Friday. 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 $14.29 and its two-hundred day moving average price is $13.19. 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 $2.08 billion, a price-to-earnings ratio of -11.76 and a beta of 0.93.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.11). The company had revenue of $174.06 million for the quarter, compared to analyst estimates of $167.77 million. NovoCure had a negative return on equity of 50.82% and a negative net margin of 25.66%.The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the company posted ($0.31) earnings per share. On average, equities analysts forecast that NovoCure Limited will post -1.55 EPS for the current year.

Institutional Trading of NovoCure

Several institutional investors and hedge funds have recently modified their holdings of NVCR. AQR Capital Management LLC lifted its position in shares of NovoCure by 56.7% during the 1st quarter. AQR Capital Management LLC now owns 28,728 shares of the medical equipment provider’s stock worth $512,000 after buying an additional 10,394 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of NovoCure by 3.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,992 shares of the medical equipment provider’s stock worth $1,336,000 after buying an additional 2,502 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of NovoCure by 5.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 993,670 shares of the medical equipment provider’s stock worth $17,707,000 after buying an additional 52,180 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of NovoCure during the 1st quarter worth $87,000. Finally, Prudential Financial Inc. bought a new stake in shares of NovoCure during the 2nd quarter worth $216,000. 84.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on NVCR. Evercore reissued 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. HC Wainwright increased their target price on NovoCure from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. 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. Finally, Weiss Ratings raised NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Four 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. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $27.29.

About NovoCure

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.