NovoCure (NASDAQ:NVCR) Stock Price Down 4.5% – Time to Sell?

NovoCure Limited (NASDAQ:NVCR)’s share price traded down 4.5% during trading on Thursday . The stock traded as low as $16.90 and last traded at $17.06. 413,634 shares were traded during mid-day trading, a decline of 69% from the average session volume of 1,319,420 shares. The stock had previously closed at $17.87.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Evercore ISI reduced their price objective on shares of NovoCure from $21.00 to $18.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. Wells Fargo & Company dropped their price target on NovoCure from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, July 26th. HC Wainwright upgraded shares of NovoCure from a “neutral” rating to a “buy” rating and raised their target price for the stock from $24.00 to $30.00 in a report on Wednesday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $24.00 price objective on shares of NovoCure in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $26.17.

NovoCure Price Performance

The stock has a market capitalization of $1.80 billion, a PE ratio of -9.30 and a beta of 0.70. The company has a quick ratio of 6.22, a current ratio of 6.46 and a debt-to-equity ratio of 1.81. The stock’s 50-day moving average is $17.14 and its 200 day moving average is $17.71.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings results on Thursday, July 25th. The medical equipment provider reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.09. NovoCure had a negative net margin of 30.67% and a negative return on equity of 45.68%. The business had revenue of $150.40 million for the quarter, compared to analysts’ expectations of $135.83 million. During the same period in the previous year, the company posted ($0.54) EPS. NovoCure’s revenue was up 19.3% on a year-over-year basis. As a group, equities analysts predict that NovoCure Limited will post -1.34 earnings per share for the current year.

Institutional Investors Weigh In On NovoCure

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in NovoCure by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 9,759,098 shares of the medical equipment provider’s stock valued at $145,703,000 after acquiring an additional 122,105 shares during the last quarter. GAMMA Investing LLC raised its holdings in NovoCure by 278.0% during the first quarter. GAMMA Investing LLC now owns 2,880 shares of the medical equipment provider’s stock valued at $45,000 after buying an additional 2,118 shares in the last quarter. Counterpoint Mutual Funds LLC lifted its position in shares of NovoCure by 69.2% in the first quarter. Counterpoint Mutual Funds LLC now owns 47,646 shares of the medical equipment provider’s stock worth $745,000 after buying an additional 19,489 shares during the last quarter. Taylor Frigon Capital Management LLC boosted its stake in shares of NovoCure by 31.0% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 126,914 shares of the medical equipment provider’s stock worth $1,984,000 after acquiring an additional 30,057 shares in the last quarter. Finally, SpiderRock Advisors LLC acquired a new position in shares of NovoCure during the 1st quarter valued at about $1,375,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

NovoCure Company Profile

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.