11,400 Shares in NovoCure Limited (NASDAQ:NVCR) Bought by Aristides Capital LLC

Aristides Capital LLC acquired a new position in NovoCure Limited (NASDAQ:NVCR) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,400 shares of the medical equipment provider’s stock, valued at approximately $178,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of NovoCure by 278.0% during the 1st quarter. GAMMA Investing LLC now owns 2,880 shares of the medical equipment provider’s stock worth $45,000 after acquiring an additional 2,118 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in NovoCure by 1,113.7% in the first quarter. Daiwa Securities Group Inc. now owns 5,122 shares of the medical equipment provider’s stock valued at $80,000 after purchasing an additional 4,700 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of NovoCure in the first quarter valued at $113,000. Headlands Technologies LLC acquired a new position in shares of NovoCure during the 1st quarter worth $134,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of NovoCure by 351.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 12,363 shares of the medical equipment provider’s stock worth $185,000 after buying an additional 9,624 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on NVCR. Evercore ISI upped their price target on shares of NovoCure from $14.50 to $20.00 and gave the company an “in-line” rating in a report on Tuesday, July 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $28.00 target price (up previously from $25.00) on shares of NovoCure in a research note on Wednesday, April 10th. Wells Fargo & Company lowered their target price on NovoCure from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday. Wedbush reissued an “outperform” rating and issued a $24.00 price target on shares of NovoCure in a report on Thursday. Finally, HC Wainwright upped their price objective on NovoCure from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $31.88.

NovoCure Stock Up 2.0 %

NVCR stock traded up $0.37 during mid-day trading on Friday, hitting $19.02. 1,236,980 shares of the company were exchanged, compared to its average volume of 1,881,869. The firm has a fifty day simple moving average of $19.84 and a 200 day simple moving average of $16.56. The company has a market capitalization of $2.05 billion, a PE ratio of -10.51 and a beta of 0.70. NovoCure Limited has a twelve month low of $10.87 and a twelve month high of $41.51. The company has a current ratio of 6.26, a quick ratio of 5.99 and a debt-to-equity ratio of 1.59.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings results on Thursday, July 25th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.09. NovoCure had a negative return on equity of 45.37% and a negative net margin of 30.67%. The business had revenue of $150.40 million for the quarter, compared to analyst estimates of $135.83 million. During the same period in the prior year, the company posted ($0.54) EPS. The business’s revenue was up 19.3% compared to the same quarter last year. On average, research analysts forecast that NovoCure Limited will post -1.59 earnings per share for the current fiscal year.

About NovoCure

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company's TTFields devices include Optune Gio and Optune Lua.