NovoCure (NASDAQ:NVCR) Sets New 52-Week Low – What’s Next?

NovoCure Limited (NASDAQ:NVCR) hit a new 52-week low on Thursday . The company traded as low as $10.39 and last traded at $10.1540, with a volume of 2040282 shares changing hands. The stock had previously closed at $11.56.

Wall Street Analyst Weigh In

NVCR has been the topic of a number of analyst reports. Wedbush reissued a “neutral” rating and issued a $18.00 price target on shares of NovoCure in a research report on Thursday, January 15th. HC Wainwright dropped their target price on NovoCure from $42.00 to $39.00 and set a “buy” rating on the stock in a report on Tuesday, January 13th. JPMorgan Chase & Co. reduced their price target on NovoCure from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of NovoCure in a research note on Thursday, January 22nd. Finally, Evercore ISI set a $20.00 price objective on shares of NovoCure in a research report on Monday, January 5th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $25.50.

NovoCure Price Performance

The stock has a market capitalization of $1.14 billion, a PE ratio of -6.33 and a beta of 0.73. The firm’s fifty day moving average price is $13.06 and its two-hundred day moving average price is $12.76. The company has a quick ratio of 1.50, a current ratio of 1.55 and a debt-to-equity ratio of 0.57.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in NovoCure by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 10,958,209 shares of the medical equipment provider’s stock valued at $141,690,000 after purchasing an additional 502,368 shares in the last quarter. Soleus Capital Management L.P. lifted its stake in shares of NovoCure by 25.0% during the 2nd 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 buying an additional 1,382,888 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in NovoCure by 38.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,270,076 shares of the medical equipment provider’s stock worth $40,407,000 after buying an additional 634,925 shares during the period. Quantinno Capital Management LP increased its stake in NovoCure by 38.5% in the 2nd quarter. Quantinno Capital Management LP now owns 1,368,663 shares of the medical equipment provider’s stock worth $24,362,000 after buying an additional 380,411 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in NovoCure by 106.5% during the third quarter. Millennium Management LLC now owns 1,335,490 shares of the medical equipment provider’s stock valued at $17,255,000 after acquiring an additional 688,710 shares during the period. Institutional investors own 84.61% of the company’s stock.

About NovoCure

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.