Emerald Advisers LLC Makes New $16.32 Million Investment in NovoCure Limited (NASDAQ:NVCR)

Emerald Advisers LLC purchased a new position in shares of NovoCure Limited (NASDAQ:NVCR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 547,557 shares of the medical equipment provider’s stock, valued at approximately $16,317,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVCR. Connor Clark & Lunn Investment Management Ltd. lifted its stake in NovoCure by 16.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 426,263 shares of the medical equipment provider’s stock worth $6,662,000 after purchasing an additional 59,608 shares during the period. Intech Investment Management LLC bought a new position in NovoCure during the third quarter worth about $346,000. Charles Schwab Investment Management Inc. raised its stake in shares of NovoCure by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 824,443 shares of the medical equipment provider’s stock valued at $12,886,000 after acquiring an additional 16,339 shares during the last quarter. Alpha DNA Investment Management LLC raised its stake in shares of NovoCure by 22.6% in the third quarter. Alpha DNA Investment Management LLC now owns 24,950 shares of the medical equipment provider’s stock valued at $390,000 after acquiring an additional 4,597 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of NovoCure by 7.6% in the third quarter. The Manufacturers Life Insurance Company now owns 202,027 shares of the medical equipment provider’s stock valued at $3,158,000 after acquiring an additional 14,255 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

NovoCure Stock Performance

Shares of NovoCure stock opened at $19.33 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. The firm has a market cap of $2.12 billion, a P/E ratio of -13.81 and a beta of 0.63. The firm has a 50 day simple moving average of $22.47 and a 200 day simple moving average of $21.58. NovoCure Limited has a fifty-two week low of $11.70 and a fifty-two week high of $34.13.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.27). The company had revenue of $161.27 million during the quarter, compared to analyst estimates of $161.30 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. Sell-side analysts predict that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NVCR. Piper Sandler lifted their target price on shares of NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. StockNews.com upgraded shares of NovoCure from a “sell” rating to a “hold” rating in a research note on Tuesday, March 18th. Wedbush reiterated a “neutral” rating and issued a $29.00 target price on shares of NovoCure in a research note on Monday, January 13th. Evercore ISI upgraded shares of NovoCure from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $18.00 to $30.00 in a research note on Monday, December 2nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $38.00 target price on shares of NovoCure in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $35.80.

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.