NovoCure (NASDAQ:NVCR) insider Yoram Palti sold 60,000 shares of the business’s stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $20.32, for a total transaction of $1,219,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Yoram Palti also recently made the following trade(s):
- On Thursday, March 29th, Yoram Palti sold 30,000 shares of NovoCure stock. The shares were sold at an average price of $21.67, for a total transaction of $650,100.00.
Shares of NVCR stock opened at $19.85 on Friday. The company has a market cap of $1,829.11, a P/E ratio of -28.36 and a beta of 3.16. The company has a debt-to-equity ratio of 0.86, a quick ratio of 4.44 and a current ratio of 4.88. NovoCure has a 12 month low of $10.30 and a 12 month high of $24.15.
NovoCure (NASDAQ:NVCR) last announced its quarterly earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.02. The company had revenue of $53.66 million for the quarter, compared to analysts’ expectations of $53.17 million. NovoCure had a negative net margin of 34.83% and a negative return on equity of 51.74%. NovoCure’s revenue was up 77.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.26) EPS. research analysts forecast that NovoCure will post -0.5 EPS for the current year.
A number of research analysts have weighed in on the stock. BidaskClub cut shares of NovoCure from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. Mizuho restated a “buy” rating and set a $28.00 price target (up from $25.00) on shares of NovoCure in a research note on Friday, February 23rd. Zacks Investment Research cut shares of NovoCure from a “buy” rating to a “hold” rating in a research note on Saturday, January 13th. Deutsche Bank dropped their price target on shares of NovoCure from $22.00 to $19.00 and set a “hold” rating on the stock in a research note on Friday, February 23rd. Finally, ValuEngine upgraded shares of NovoCure from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $19.71.
Hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. purchased a new stake in shares of NovoCure during the 3rd quarter valued at approximately $1,163,000. Wells Fargo & Company MN increased its holdings in NovoCure by 44.8% during the 3rd quarter. Wells Fargo & Company MN now owns 66,058 shares of the medical equipment provider’s stock worth $1,312,000 after acquiring an additional 20,439 shares during the period. Sei Investments Co. bought a new stake in NovoCure during the 3rd quarter worth approximately $397,000. Frontier Capital Management Co. LLC increased its holdings in NovoCure by 29.8% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,081,898 shares of the medical equipment provider’s stock worth $21,854,000 after acquiring an additional 248,322 shares during the period. Finally, Tamarack Advisers LP bought a new stake in NovoCure during the 4th quarter worth approximately $21,311,000. Institutional investors own 42.83% of the company’s stock.
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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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