Xponance Inc. Makes New $231,000 Investment in NovoCure Limited (NASDAQ:NVCR)

Xponance Inc. purchased a new stake in NovoCure Limited (NASDAQ:NVCR) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 7,762 shares of the medical equipment provider’s stock, valued at approximately $231,000.

Several other institutional investors also recently made changes to their positions in NVCR. Cibc World Markets Corp purchased a new stake in NovoCure during the fourth quarter valued at about $297,000. Swiss National Bank grew its holdings in shares of NovoCure by 1.3% during the 4th quarter. Swiss National Bank now owns 202,200 shares of the medical equipment provider’s stock worth $6,026,000 after purchasing an additional 2,600 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of NovoCure by 2.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 437,772 shares of the medical equipment provider’s stock worth $13,046,000 after purchasing an additional 11,509 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in NovoCure by 21.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,385 shares of the medical equipment provider’s stock worth $816,000 after purchasing an additional 4,760 shares in the last quarter. Finally, Lindbrook Capital LLC raised its holdings in NovoCure by 189.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock valued at $55,000 after buying an additional 1,213 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NVCR has been the subject of several research reports. Wedbush reiterated a “neutral” rating and set a $29.00 price objective on shares of NovoCure in a research note on Monday, January 13th. Piper Sandler increased their price target on NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, December 13th. HC Wainwright reissued a “buy” rating and issued a $38.00 price objective on shares of NovoCure in a research report on Tuesday, January 14th. Evercore ISI raised NovoCure from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $18.00 to $30.00 in a research report on Monday, December 2nd. Finally, StockNews.com downgraded NovoCure from a “hold” rating to a “sell” rating in a report on Saturday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, NovoCure currently has a consensus rating of “Moderate Buy” and an average price target of $35.80.

NovoCure Trading Down 0.6 %

NASDAQ:NVCR opened at $18.86 on Friday. NovoCure Limited has a one year low of $11.70 and a one year high of $34.13. The business’s 50-day simple moving average is $21.72 and its 200 day simple moving average is $21.61. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -13.47 and a beta of 0.63.

NovoCure (NASDAQ:NVCR) last announced its earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.27). The business had revenue of $161.27 million during the quarter, compared to analyst estimates of $161.30 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. As a group, sell-side analysts predict that NovoCure Limited will post -1.3 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.