NovoCure Limited (NASDAQ:NVCR) has been assigned a consensus rating of “Hold” from the seven analysts that are covering the firm. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $18.60.
NVCR has been the subject of several recent research reports. Wedbush reissued an “outperform” rating and issued a $20.00 price objective on shares of NovoCure Limited in a research report on Wednesday, January 11th. J P Morgan Chase & Co set a $14.00 price objective on shares of NovoCure Limited and gave the stock a “buy” rating in a research report on Wednesday, November 2nd. Zacks Investment Research lowered shares of NovoCure Limited from a “hold” rating to a “sell” rating in a research report on Wednesday, January 4th. Finally, Wells Fargo & Company lowered shares of NovoCure Limited from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 11th.
Shares of NovoCure Limited (NASDAQ:NVCR) opened at 7.10 on Thursday. NovoCure Limited has a 52 week low of $5.95 and a 52 week high of $18.72. The company’s 50-day moving average is $7.13 and its 200 day moving average is $7.91. The firm’s market capitalization is $616.14 million.
In other NovoCure Limited news, COO Michael J. Ambrogi sold 10,000 shares of the stock in a transaction on Tuesday, December 6th. The shares were sold at an average price of $8.24, for a total transaction of $82,400.00. Following the transaction, the chief operating officer now directly owns 309,084 shares in the company, valued at approximately $2,546,852.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michael J. Ambrogi sold 15,000 shares of the stock in a transaction on Monday, December 12th. The shares were sold at an average price of $9.01, for a total transaction of $135,150.00. Following the transaction, the chief operating officer now owns 289,084 shares in the company, valued at $2,604,646.84. The disclosure for this sale can be found here. Insiders sold 182,500 shares of company stock valued at $1,591,575 over the last 90 days. Insiders own 33.90% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Highline Capital Management L.P. increased its position in NovoCure Limited by 3.5% in the third quarter. Highline Capital Management L.P. now owns 1,818,079 shares of the company’s stock worth $15,526,000 after buying an additional 62,200 shares during the period. Peregrine Capital Management LLC bought a new position in NovoCure Limited during the third quarter worth approximately $7,988,000. Tamarack Advisers LP bought a new position in NovoCure Limited during the third quarter worth approximately $6,557,000. Courage Capital Management LLC bought a new position in NovoCure Limited during the third quarter worth approximately $4,270,000. Finally, Hartline Investment Corp increased its position in NovoCure Limited by 69.4% in the third quarter. Hartline Investment Corp now owns 140,941 shares of the company’s stock worth $1,204,000 after buying an additional 57,751 shares during the period. Hedge funds and other institutional investors own 21.93% of the company’s stock.
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About NovoCure Limited
NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a therapy called TTFields for the treatment of solid tumor cancers. TTFields is a low-toxicity anti-mitotic treatment that uses low-intensity, intermediate frequency, alternating electric fields to exert physical forces on molecules inside cancer cells, disrupting the basic machinery for normal cell division, leading to cancer cell death.
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