Birchview Capital LP Buys 70,000 Shares of NovoCure Limited $NVCR

by · The Cerbat Gem

Birchview Capital LP lifted its position in NovoCure Limited (NASDAQ:NVCR – Free Report) by 225.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 101,000 shares of the medical equipment provider’s stock after purchasing an additional 70,000 shares during the period. NovoCure comprises approximately 1.8% of Birchview Capital LP’s holdings, making the stock its 16th biggest holding. Birchview Capital LP’s holdings in NovoCure were worth $1,798,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NVCR. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in NovoCure by 154.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,782,159 shares of the medical equipment provider’s stock valued at $31,758,000 after purchasing an additional 1,080,514 shares during the period. Strs Ohio bought a new position in shares of NovoCure in the first quarter worth $759,000. American Century Companies Inc. purchased a new stake in shares of NovoCure in the first quarter worth $1,262,000. KLP Kapitalforvaltning AS boosted its stake in NovoCure by 6.5% during the second quarter. KLP Kapitalforvaltning AS now owns 23,000 shares of the medical equipment provider’s stock valued at $409,000 after buying an additional 1,400 shares during the period. Finally, Washington Capital Management Inc. bought a new stake in NovoCure during the second quarter valued at $374,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on NVCR. HC Wainwright upped their target price on NovoCure from $38.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Weiss Ratings restated a “sell (e+)” rating on shares of NovoCure in a research report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their target price on shares of NovoCure from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Monday, October 27th. Finally, Wedbush reissued a “neutral” rating and issued a $18.00 price target on shares of NovoCure in a research note on Tuesday, September 30th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $26.92.

Get Our Latest Report on NovoCure

NovoCure Stock Down 2.5%

Shares of NASDAQ NVCR opened at $13.32 on Friday. The stock has a market capitalization of $1.49 billion, a P/E ratio of -8.27 and a beta of 0.83. NovoCure Limited has a one year low of $10.70 and a one year high of $34.13. The firm’s 50 day simple moving average is $12.70 and its two-hundred day simple moving average is $13.90. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.55 and a quick ratio of 1.50.

NovoCure (NASDAQ:NVCR – Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The medical equipment provider reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.09. NovoCure had a negative net margin of 27.66% and a negative return on equity of 50.29%. The company had revenue of $167.20 million during the quarter, compared to analysts’ expectations of $158.81 million. During the same quarter in the prior year, the company earned ($0.28) EPS. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, analysts expect that NovoCure Limited will post -1.3 EPS for the current fiscal year.

NovoCure Profile

(Free Report)

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.

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