Point72 Asia Singapore Pte. Ltd. Takes $34,000 Position in NovoCure Limited (NASDAQ:NVCR)

Point72 Asia Singapore Pte. Ltd. bought a new position in NovoCure Limited (NASDAQ:NVCR) in the second quarter, according to its most recent filing with the SEC. The firm bought 1,984 shares of the medical equipment provider’s stock, valued at approximately $34,000.

Other institutional investors also recently bought and sold shares of the company. Ridgewood Investments LLC purchased a new position in shares of NovoCure in the second quarter worth $28,000. Signaturefd LLC raised its stake in NovoCure by 61.7% in the 2nd quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 627 shares during the last quarter. Fifth Third Bancorp acquired a new stake in NovoCure during the 2nd quarter worth about $43,000. GAMMA Investing LLC grew its stake in NovoCure by 278.0% during the 1st quarter. GAMMA Investing LLC now owns 2,880 shares of the medical equipment provider’s stock valued at $45,000 after purchasing an additional 2,118 shares during the last quarter. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of NovoCure during the second quarter worth about $48,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wells Fargo & Company dropped their price objective on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. HC Wainwright increased their price target on NovoCure from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Evercore ISI decreased their price objective on NovoCure from $21.00 to $18.00 and set an “in-line” rating for the company in a report on Tuesday. Finally, Wedbush reaffirmed an “outperform” rating and set a $24.00 target price on shares of NovoCure in a report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $25.17.

NovoCure Trading Down 4.7 %

Shares of NovoCure stock opened at $14.89 on Wednesday. NovoCure Limited has a fifty-two week low of $10.87 and a fifty-two week high of $24.74. The company has a debt-to-equity ratio of 1.81, a quick ratio of 6.22 and a current ratio of 6.46. The company has a market cap of $1.60 billion, a P/E ratio of -8.23 and a beta of 0.71. The firm has a 50-day simple moving average of $18.21 and a two-hundred day simple moving average of $17.62.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, July 25th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.09. NovoCure had a negative return on equity of 45.68% and a negative net margin of 30.67%. The company had revenue of $150.40 million for the quarter, compared to the consensus estimate of $135.83 million. During the same quarter in the prior year, the business posted ($0.54) earnings per share. NovoCure’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, equities analysts predict that NovoCure Limited will post -1.34 earnings per share for the current fiscal year.

NovoCure Profile

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.