NovoCure Limited (NASDAQ:NVCR)’s share price was down 1% during mid-day trading on Monday . The company traded as low as $19.40 and last traded at $19.65. Approximately 367,258 shares traded hands during trading, a decline of 62% from the average daily volume of 976,283 shares. The stock had previously closed at $19.85.

A number of analysts have recently commented on NVCR shares. Zacks Investment Research lowered NovoCure Limited from a “hold” rating to a “sell” rating in a report on Wednesday, June 28th. BidaskClub upgraded NovoCure Limited from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. Mizuho initiated coverage on NovoCure Limited in a research report on Wednesday, September 6th. They set a “buy” rating and a $25.00 price target for the company. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $19.00 price target (up from $18.00) on shares of NovoCure Limited in a research note on Monday, July 17th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $20.00.

The firm’s market cap is $1.70 billion. The stock’s 50 day moving average is $19.72 and its 200-day moving average is $14.71.

NovoCure Limited (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.01). NovoCure Limited had a negative return on equity of 69.48% and a negative net margin of 75.91%. The firm had revenue of $38.38 million for the quarter, compared to analysts’ expectations of $42.20 million. Equities research analysts forecast that NovoCure Limited will post ($0.77) EPS for the current fiscal year.

In related news, CEO Asaf Danziger sold 155,088 shares of the stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $18.14, for a total transaction of $2,813,296.32. Following the completion of the transaction, the chief executive officer now owns 899,462 shares in the company, valued at $16,316,240.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold 670,640 shares of company stock worth $12,444,714 over the last quarter. 16.70% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC raised its holdings in shares of NovoCure Limited by 21.2% in the 4th quarter. Teachers Advisors LLC now owns 95,674 shares of the medical equipment provider’s stock worth $751,000 after purchasing an additional 16,741 shares during the period. Bank of New York Mellon Corp grew its holdings in NovoCure Limited by 1.4% during the first quarter. Bank of New York Mellon Corp now owns 173,523 shares of the medical equipment provider’s stock valued at $1,406,000 after purchasing an additional 2,480 shares during the period. American International Group Inc. grew its holdings in NovoCure Limited by 7.1% during the first quarter. American International Group Inc. now owns 31,191 shares of the medical equipment provider’s stock valued at $253,000 after purchasing an additional 2,065 shares during the period. Vanguard Group Inc. grew its holdings in NovoCure Limited by 12.0% during the first quarter. Vanguard Group Inc. now owns 3,047,940 shares of the medical equipment provider’s stock valued at $24,688,000 after purchasing an additional 325,512 shares during the period. Finally, Geode Capital Management LLC grew its holdings in NovoCure Limited by 14.6% during the first quarter. Geode Capital Management LLC now owns 128,632 shares of the medical equipment provider’s stock valued at $1,041,000 after purchasing an additional 16,411 shares during the period. 36.84% of the stock is owned by hedge funds and other institutional investors.

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About NovoCure Limited

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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