Novocure Ltd (NASDAQ:NVCR) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $90.03 and last traded at $87.98, with a volume of 1540 shares traded. The stock had previously closed at $88.77.

A number of brokerages recently issued reports on NVCR. Wedbush downgraded Novocure from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $57.00 to $80.00 in a research report on Friday, July 26th. Zacks Investment Research downgraded Novocure from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Mizuho lifted their target price on Novocure from $63.00 to $91.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Oppenheimer set a $85.00 target price on Novocure and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, TheStreet upgraded Novocure from a “d” rating to a “c-” rating in a research report on Friday, July 26th. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $68.00.

The firm has a market cap of $8.67 billion, a price-to-earnings ratio of -125.45 and a beta of 2.46. The company has a 50-day simple moving average of $72.96. The company has a quick ratio of 4.68, a current ratio of 5.03 and a debt-to-equity ratio of 1.01.

Novocure (NASDAQ:NVCR) last released its earnings results on Thursday, July 25th. The medical equipment provider reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.06. Novocure had a negative return on equity of 31.80% and a negative net margin of 13.84%. The business had revenue of $86.70 million during the quarter, compared to the consensus estimate of $78.98 million. During the same period last year, the company earned ($0.17) earnings per share. The business’s revenue for the quarter was up 41.0% compared to the same quarter last year. Research analysts expect that Novocure Ltd will post -0.22 EPS for the current year.

In related news, insider William F. Doyle sold 1,900 shares of Novocure stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $53.10, for a total value of $100,890.00. Following the completion of the sale, the insider now directly owns 894,563 shares in the company, valued at $47,501,295.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Pritesh Shah sold 7,020 shares of Novocure stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $83.00, for a total value of $582,660.00. Following the completion of the sale, the insider now owns 82,091 shares of the company’s stock, valued at $6,813,553. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 743,966 shares of company stock valued at $44,191,933. Corporate insiders own 5.60% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Novocure by 2.3% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 21,799 shares of the medical equipment provider’s stock valued at $1,378,000 after acquiring an additional 500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Novocure by 13.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,573 shares of the medical equipment provider’s stock valued at $289,000 after acquiring an additional 546 shares in the last quarter. Rice Hall James & Associates LLC raised its holdings in shares of Novocure by 4.1% in the first quarter. Rice Hall James & Associates LLC now owns 15,215 shares of the medical equipment provider’s stock valued at $733,000 after acquiring an additional 600 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Novocure by 6.0% in the second quarter. Envestnet Asset Management Inc. now owns 12,362 shares of the medical equipment provider’s stock valued at $782,000 after acquiring an additional 697 shares in the last quarter. Finally, Nvwm LLC raised its holdings in shares of Novocure by 6.6% in the second quarter. Nvwm LLC now owns 14,128 shares of the medical equipment provider’s stock valued at $893,000 after acquiring an additional 872 shares in the last quarter. Hedge funds and other institutional investors own 63.98% of the company’s stock.

Novocure Company Profile (NASDAQ:NVCR)

Novocure Ltd. is global oncology company, which engages in the development and commercialization of its innovative therapy. It focuses on the commercial adoption of Optune, and its Tumor Treating Fields delivery system, for the treatment of glioblastoma (GBM), and to advance programs testing the efficacy and safety of Optune in multiple solid tumor indications through clinical pipeline.

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