NovoCure Target of Unusually Large Options Trading (NASDAQ:NVCR)

NovoCure Limited (NASDAQ:NVCR) was the recipient of some unusual options trading on Monday. Traders bought 4,528 call options on the stock. This represents an increase of 252% compared to the average daily volume of 1,285 call options.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NVCR. HC Wainwright reaffirmed a “buy” rating and set a $38.00 target price (up previously from $30.00) on shares of NovoCure in a research note on Monday. Wedbush reiterated a “neutral” rating and issued a $29.00 price target (up previously from $24.00) on shares of NovoCure in a report on Monday. Finally, Evercore ISI upgraded NovoCure from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $18.00 to $30.00 in a report on Monday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.33.

Institutional Investors Weigh In On NovoCure

A number of institutional investors and hedge funds have recently modified their holdings of NVCR. Lombard Odier Asset Management USA Corp grew its position in NovoCure by 5.4% during the 2nd quarter. Lombard Odier Asset Management USA Corp now owns 10,862 shares of the medical equipment provider’s stock worth $186,000 after purchasing an additional 557 shares in the last quarter. Arizona State Retirement System boosted its position in shares of NovoCure by 2.1% in the second quarter. Arizona State Retirement System now owns 28,481 shares of the medical equipment provider’s stock worth $488,000 after buying an additional 581 shares during the period. Signaturefd LLC grew its holdings in shares of NovoCure by 61.7% during the second quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 627 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in NovoCure by 21.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider’s stock valued at $61,000 after buying an additional 701 shares during the period. Finally, Venturi Wealth Management LLC lifted its stake in NovoCure by 58.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock worth $57,000 after acquiring an additional 1,354 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

NovoCure Stock Up 2.2 %

Shares of NASDAQ NVCR opened at $30.51 on Wednesday. The business has a 50-day simple moving average of $17.19 and a two-hundred day simple moving average of $18.51. The company has a market cap of $3.30 billion, a P/E ratio of -21.79 and a beta of 0.75. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. NovoCure has a 52 week low of $11.66 and a 52 week high of $32.60.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.06. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The company had revenue of $155.10 million for the quarter, compared to analyst estimates of $143.95 million. During the same quarter in the previous year, the company posted ($0.46) earnings per share. The firm’s revenue was up 21.8% compared to the same quarter last year. Research analysts anticipate that NovoCure will post -1.31 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.