NovoCure (NASDAQ:NVCR) Stock Price Down 4.1% – Time to Sell?

NovoCure Limited (NASDAQ:NVCR)’s stock price fell 4.1% on Tuesday . The company traded as low as $19.03 and last traded at $18.98. 86,708 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 1,243,584 shares. The stock had previously closed at $19.78.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NVCR shares. Wedbush reissued a “neutral” rating and set a $29.00 price target on shares of NovoCure in a research report on Monday, January 13th. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 target price on shares of NovoCure in a research report on Tuesday, January 14th. Piper Sandler boosted their price objective on shares of NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. StockNews.com upgraded shares of NovoCure from a “sell” rating to a “hold” rating in a research note on Tuesday, March 18th. Finally, Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $18.00 to $30.00 in a report on Monday, December 2nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $35.80.

NovoCure Trading Up 2.9 %

The company has a 50-day moving average price of $22.01 and a two-hundred day moving average price of $21.61. The stock has a market cap of $2.09 billion, a P/E ratio of -13.55 and a beta of 0.63. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.27). NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The firm had revenue of $161.27 million during the quarter, compared to the consensus estimate of $161.30 million. On average, research analysts expect that NovoCure Limited will post -1.3 EPS for the current fiscal year.

Hedge Funds Weigh In On NovoCure

Large investors have recently bought and sold shares of the business. GeoWealth Management LLC purchased a new stake in shares of NovoCure during the fourth quarter valued at $27,000. Lindbrook Capital LLC boosted its position in NovoCure by 189.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock valued at $55,000 after buying an additional 1,213 shares during the period. Blue Trust Inc. boosted its position in NovoCure by 70.7% in the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after buying an additional 781 shares during the period. GF Fund Management CO. LTD. bought a new position in NovoCure in the 4th quarter worth about $68,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of NovoCure during the fourth quarter worth approximately $70,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

About NovoCure

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.