NovoCure Limited (NVCR) Insider Eilon D. Kirson Sells 22,269 Shares
NovoCure Limited (NASDAQ:NVCR) insider Eilon D. Kirson sold 22,269 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $22.01, for a total value of $490,140.69. Following the completion of the sale, the insider now owns 63,120 shares in the company, valued at $1,389,271.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
NovoCure Limited (NVCR) traded up $0.30 during trading hours on Friday, reaching $21.80. The company had a trading volume of 704,863 shares, compared to its average volume of 1,044,118.
NovoCure Limited (NASDAQ:NVCR) last posted its earnings results on Thursday, October 26th. The medical equipment provider reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.07. The firm had revenue of $50.10 million for the quarter, compared to analyst estimates of $43.45 million. NovoCure Limited had a negative return on equity of 57.68% and a negative net margin of 47.45%. NovoCure Limited’s revenue for the quarter was up 130.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.39) earnings per share. analysts anticipate that NovoCure Limited will post -0.63 earnings per share for the current fiscal year.
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NVCR has been the topic of several analyst reports. Zacks Investment Research cut NovoCure Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Wedbush reiterated an “outperform” rating and issued a $25.00 price objective (down from $29.00) on shares of NovoCure Limited in a research note on Friday, October 27th. BidaskClub upgraded NovoCure Limited from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. Mizuho initiated coverage on NovoCure Limited in a research note on Wednesday, September 6th. They issued a “buy” rating and a $25.00 price objective on the stock. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $19.00 target price (up previously from $18.00) on shares of NovoCure Limited in a report on Monday, July 17th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $21.00.
Large investors have recently bought and sold shares of the stock. Bank of Montreal Can increased its holdings in NovoCure Limited by 1,919.7% in the second quarter. Bank of Montreal Can now owns 7,069 shares of the medical equipment provider’s stock valued at $122,000 after buying an additional 6,719 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of NovoCure Limited by 792.5% during the second quarter. BNP Paribas Arbitrage SA now owns 7,229 shares of the medical equipment provider’s stock worth $125,000 after purchasing an additional 6,419 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in shares of NovoCure Limited during the second quarter worth about $126,000. Fox Run Management L.L.C. purchased a new position in shares of NovoCure Limited during the second quarter worth about $225,000. Finally, TIAA FSB purchased a new position in shares of NovoCure Limited during the second quarter worth about $238,000. 36.20% of the stock is currently owned by hedge funds and other institutional investors.
NovoCure Limited Company Profile
NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.
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