NovoCure (NASDAQ:NVCR) Shares Down 6.5% – What’s Next?

NovoCure Limited (NASDAQ:NVCR)’s stock price dropped 6.5% during trading on Friday . The stock traded as low as $11.80 and last traded at $11.7130. Approximately 833,043 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 1,940,424 shares. The stock had previously closed at $12.53.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NVCR shares. Evercore set a $20.00 target price on NovoCure in a report on Monday, January 5th. Wedbush reissued a “neutral” rating and issued a $18.00 price objective on shares of NovoCure in a report on Thursday, January 15th. HC Wainwright raised their price objective on shares of NovoCure from $39.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. decreased their target price on shares of NovoCure from $25.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday, October 27th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of NovoCure in a research note on Thursday, January 22nd. Three investment 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 presently has a consensus rating of “Hold” and a consensus price target of $26.64.

NovoCure Price Performance

The company has a quick ratio of 1.50, a current ratio of 1.55 and a debt-to-equity ratio of 0.57. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -6.84 and a beta of 0.73. The stock’s 50-day simple moving average is $12.90 and its 200 day simple moving average is $12.60.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NVCR. Empowered Funds LLC purchased a new stake in shares of NovoCure in the 4th quarter valued at $33,000. SJS Investment Consulting Inc. purchased a new stake in shares of NovoCure during the third quarter worth $41,000. Larson Financial Group LLC increased its position in shares of NovoCure by 662.1% during the third quarter. Larson Financial Group LLC now owns 4,100 shares of the medical equipment provider’s stock worth $53,000 after acquiring an additional 3,562 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of NovoCure by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,442 shares of the medical equipment provider’s stock valued at $70,000 after acquiring an additional 1,120 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in NovoCure in the first quarter valued at $87,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.