Novocure Ltd (NASDAQ:NVCR) CTO Yoram Palti sold 12,216 shares of the company’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $40.00, for a total value of $488,640.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Yoram Palti also recently made the following trade(s):

  • On Monday, August 27th, Yoram Palti sold 25,666 shares of Novocure stock. The shares were sold at an average price of $40.03, for a total value of $1,027,409.98.
  • On Thursday, June 14th, Yoram Palti sold 30,000 shares of Novocure stock. The shares were sold at an average price of $31.64, for a total value of $949,200.00.

NVCR opened at $43.30 on Friday. Novocure Ltd has a 52-week low of $16.10 and a 52-week high of $43.80. The company has a debt-to-equity ratio of 1.33, a quick ratio of 5.97 and a current ratio of 6.41.

Novocure (NASDAQ:NVCR) last released its earnings results on Thursday, July 26th. The medical equipment provider reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The company had revenue of $61.50 million for the quarter, compared to analyst estimates of $59.53 million. Novocure had a negative return on equity of 52.34% and a negative net margin of 26.99%. Novocure’s quarterly revenue was up 60.2% on a year-over-year basis. equities research analysts expect that Novocure Ltd will post -0.69 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Novocure by 12.6% during the 2nd quarter. FMR LLC now owns 7,862,121 shares of the medical equipment provider’s stock worth $246,084,000 after purchasing an additional 881,776 shares in the last quarter. BlackRock Inc. lifted its position in shares of Novocure by 22.4% during the 2nd quarter. BlackRock Inc. now owns 4,620,546 shares of the medical equipment provider’s stock worth $144,623,000 after buying an additional 846,277 shares during the last quarter. Baillie Gifford & Co. lifted its position in shares of Novocure by 12.5% during the 2nd quarter. Baillie Gifford & Co. now owns 3,093,395 shares of the medical equipment provider’s stock worth $96,823,000 after buying an additional 343,756 shares during the last quarter. Farallon Capital Management LLC lifted its position in shares of Novocure by 58.8% during the 1st quarter. Farallon Capital Management LLC now owns 1,850,000 shares of the medical equipment provider’s stock worth $40,330,000 after buying an additional 685,000 shares during the last quarter. Finally, Tamarack Advisers LP lifted its position in shares of Novocure by 5.7% during the 1st quarter. Tamarack Advisers LP now owns 1,115,000 shares of the medical equipment provider’s stock worth $24,307,000 after buying an additional 60,000 shares during the last quarter. 54.91% of the stock is currently owned by institutional investors.

A number of research analysts have commented on the company. BidaskClub raised Novocure from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 16th. Mizuho reissued a “buy” rating and set a $32.00 target price on shares of Novocure in a report on Wednesday, June 13th. ValuEngine raised Novocure from a “buy” rating to a “strong-buy” rating in a report on Friday, August 3rd. Evercore ISI began coverage on Novocure in a report on Monday, July 16th. They set an “outperform” rating and a $46.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their target price on Novocure from $30.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Novocure has an average rating of “Buy” and a consensus price target of $34.67.

Novocure Company Profile

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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