NovoCure Limited (NASDAQ:NVCR – Get Free Report) Director Jeryl Hilleman sold 2,945 shares of NovoCure stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total transaction of $46,442.65. Following the completion of the transaction, the director owned 13,861 shares in the company, valued at approximately $218,587.97. This trade represents a 17.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
NovoCure Stock Performance
NASDAQ:NVCR opened at $16.15 on Thursday. The firm’s fifty day moving average price is $14.16 and its 200 day moving average price is $13.14. NovoCure Limited has a 1-year low of $9.82 and a 1-year high of $19.25. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.90 and a quick ratio of 2.70. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of -10.56 and a beta of 0.93.
NovoCure (NASDAQ:NVCR – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). NovoCure had a negative net margin of 25.66% and a negative return on equity of 50.82%. The firm had revenue of $174.06 million during the quarter, compared to analysts’ expectations of $167.77 million. During the same quarter last year, the business earned ($0.31) earnings per share. The business’s quarterly revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts expect that NovoCure Limited will post -1.55 EPS for the current year.
Institutional Trading of NovoCure
Wall Street Analysts Forecast Growth
Several brokerages have commented on NVCR. Evercore restated an “outperform” rating on shares of NovoCure in a research report on Friday, May 1st. HC Wainwright boosted their target price on shares of NovoCure from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Wedbush reissued a “neutral” rating and issued a $18.00 target price on shares of NovoCure in a research note on Thursday, April 16th. Wells Fargo & Company upped their price objective on shares of NovoCure from $13.50 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Finally, Weiss Ratings raised shares of NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, NovoCure has a consensus rating of “Hold” and a consensus target price of $27.29.
Read Our Latest Report on NovoCure
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.
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