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

NovoCure Limited (NASDAQ:NVCR) was the target of unusually large options trading on Monday. Traders purchased 4,528 call options on the company. This represents an increase of 252% compared to the average daily volume of 1,285 call options.

Analysts Set New Price Targets

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

Institutional Trading of NovoCure

Several large investors have recently modified their holdings of the stock. Ridgewood Investments LLC acquired a new stake in NovoCure during the second quarter worth about $28,000. Signaturefd LLC boosted its holdings in shares of NovoCure by 61.7% in the 2nd quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 627 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in NovoCure in the second quarter valued at about $34,000. Fifth Third Bancorp acquired a new stake in shares of NovoCure in the 2nd quarter valued at approximately $43,000. Finally, Brooklyn Investment Group bought a new position in NovoCure in the 3rd quarter valued at approximately $45,000. 84.61% of the stock is owned by institutional investors and hedge funds.

NovoCure Stock Up 49.0 %

Shares of NVCR opened at $29.85 on Tuesday. The firm’s 50-day simple moving average is $16.91 and its 200 day simple moving average is $18.45. 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 firm has a market cap of $3.23 billion, a P/E ratio of -21.32 and a beta of 0.71. NovoCure has a 52 week low of $11.66 and a 52 week high of $31.57.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.06. The business had revenue of $155.10 million during the quarter, compared to analysts’ expectations of $143.95 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The business’s revenue was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.46) EPS. On average, analysts forecast that NovoCure will post -1.31 earnings per share for the current 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.