NovoCure (NASDAQ:NVCR) Insider Sells $85,343.72 in Stock

NovoCure Limited (NASDAQ:NVCR) insider Uri Weinberg sold 6,412 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $13.31, for a total transaction of $85,343.72. Following the completion of the sale, the insider owned 267,190 shares of the company’s stock, valued at $3,556,298.90. This trade represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

NovoCure Trading Up 6.0%

NovoCure stock traded up $0.81 during trading on Thursday, reaching $14.23. 2,315,394 shares of the company were exchanged, compared to its average volume of 2,231,897. The stock’s 50 day simple moving average is $12.73 and its two-hundred day simple moving average is $12.70. The company has a market capitalization of $1.62 billion, a P/E ratio of -11.66 and a beta of 0.71. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.90 and a quick ratio of 1.50. NovoCure Limited has a 52-week low of $9.82 and a 52-week high of $21.55.

NovoCure (NASDAQ:NVCR) last issued its earnings results on Thursday, February 26th. The medical equipment provider reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.19. NovoCure had a negative return on equity of 39.11% and a negative net margin of 20.79%.The business had revenue of $174.35 million during the quarter, compared to the consensus estimate of $174.40 million. During the same period last year, the company earned ($0.61) EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities research analysts expect that NovoCure Limited will post -1.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NovoCure

Several large investors have recently modified their holdings of the stock. Morgan Stanley grew its position in NovoCure by 453.4% in the 4th quarter. Morgan Stanley now owns 5,069,895 shares of the medical equipment provider’s stock valued at $65,554,000 after buying an additional 4,153,741 shares during the last quarter. Soleus Capital Management L.P. boosted its holdings in shares of NovoCure by 25.0% in the second quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider’s stock valued at $122,897,000 after acquiring an additional 1,382,888 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of NovoCure by 1,093.2% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,223,755 shares of the medical equipment provider’s stock worth $15,823,000 after acquiring an additional 1,121,192 shares during the period. American Century Companies Inc. raised its holdings in NovoCure by 1,354.7% during the second quarter. American Century Companies Inc. now owns 1,029,874 shares of the medical equipment provider’s stock worth $18,332,000 after purchasing an additional 959,079 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in NovoCure during the fourth quarter worth about $11,991,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. HC Wainwright upped their target price on shares of NovoCure from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Evercore set a $20.00 price objective on NovoCure in a research note on Monday, January 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of NovoCure in a research note on Thursday, January 22nd. Finally, Wedbush restated a “neutral” rating and issued a $18.00 price target on shares of NovoCure in a research note on Thursday, January 15th. 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.93.

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.