NovoCure (NASDAQ:NVCR) Stock Passes Above 50-Day Moving Average – Should You Sell?

NovoCure Limited (NASDAQ:NVCR) shares passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $13.06 and traded as high as $17.53. NovoCure shares last traded at $17.01, with a volume of 994,668 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company increased their price target on NovoCure from $13.50 to $17.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Wedbush reaffirmed 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. Evercore reaffirmed an “outperform” rating on shares of NovoCure in a report on Friday, May 1st. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NovoCure in a report on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, NovoCure presently has a consensus rating of “Hold” and a consensus price target of $27.29.

NovoCure Trading Down 2.6%

The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.70 and a current ratio of 2.90. The business has a fifty day simple moving average of $13.06 and a 200 day simple moving average of $12.72. The company has a market cap of $1.97 billion, a P/E ratio of -11.12 and a beta of 0.90.

NovoCure (NASDAQ:NVCR) last released its earnings results 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 return on equity of 50.82% and a negative net margin of 25.66%.The firm had revenue of $174.06 million for the quarter, compared to the consensus estimate of $167.77 million. During the same period in the prior year, the business earned ($0.31) EPS. The company’s quarterly revenue was up 12.3% on a year-over-year basis. Analysts anticipate that NovoCure Limited will post -1.55 earnings per share for the current fiscal year.

Insider Activity at NovoCure

In other news, COO Mukund Paravasthu sold 43,246 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $13.77, for a total transaction of $595,497.42. Following the sale, the chief operating officer directly owned 72,832 shares in the company, valued at approximately $1,002,896.64. This represents a 37.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christoph Brackmann sold 6,412 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $13.31, for a total value of $85,343.72. Following the sale, the chief financial officer owned 182,842 shares in the company, valued at $2,433,627.02. The trade was a 3.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 140,041 shares of company stock worth $1,860,116 over the last quarter. 5.52% of the stock is owned by corporate insiders.

Institutional Trading of NovoCure

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Amundi raised its position in shares of NovoCure by 19.9% during the 1st quarter. Amundi now owns 47,583 shares of the medical equipment provider’s stock worth $519,000 after purchasing an additional 7,907 shares during the period. California State Teachers Retirement System raised its position in shares of NovoCure by 43.6% during the 1st quarter. California State Teachers Retirement System now owns 142,561 shares of the medical equipment provider’s stock worth $1,554,000 after purchasing an additional 43,257 shares during the period. Eversept Partners LP raised its position in shares of NovoCure by 11.5% during the 1st quarter. Eversept Partners LP now owns 134,917 shares of the medical equipment provider’s stock worth $1,471,000 after purchasing an additional 13,939 shares during the period. Quantinno Capital Management LP raised its position in shares of NovoCure by 23.7% during the 1st quarter. Quantinno Capital Management LP now owns 2,487,376 shares of the medical equipment provider’s stock worth $27,112,000 after purchasing an additional 477,128 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of NovoCure by 11.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,551,554 shares of the medical equipment provider’s stock worth $16,912,000 after purchasing an additional 163,800 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.