Market Runner: Is Novocure Ltd’s Fuel Running Low? The Stock Reaches All-Time Low Today

Market Runner: Is Novocure Ltd's Fuel Running Low? The Stock Reaches All Time Low Today

The stock of Novocure Ltd (NASDAQ:NVCR) reached all time low today, Oct, 17 and still has $6.82 target or 7.00% below today’s $7.33 share price. This indicates more downside for the $603.22M company. This technical setup was reported by Barchart.com. If the $6.82 PT is reached, the company will be worth $42.23 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. The stock last traded at $7.33 per share. It is down 42.82% since March 14, 2016 and is downtrending. It has underperformed by 48.44% the S&P500.

Analysts await Novocure Ltd (NASDAQ:NVCR) to report earnings on October, 24. They expect $-0.40 earnings per share, up 80.86% or $1.69 from last year’s $-2.09 per share. After $-0.48 actual earnings per share reported by Novocure Ltd for the previous quarter, Wall Street now forecasts -16.67% EPS growth.

Novocure Ltd (NASDAQ:NVCR) Ratings Coverage

Out of 5 analysts covering NovoCure (NASDAQ:NVCR), 3 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 60% are positive. NovoCure has been the topic of 6 analyst reports since October 27, 2015 according to StockzIntelligence Inc. Deutsche Bank initiated it with “Hold” rating and $28 target price in Wednesday, December 2 report. The rating was initiated by JMP Securities on Tuesday, October 27 with “Market Outperform”. The stock of Novocure Ltd (NASDAQ:NVCR) has “Overweight” rating given on Tuesday, October 27 by JP Morgan. The company was initiated on Tuesday, October 27 by Wedbush. Wedbush maintained the shares of NVCR in a report on Friday, July 29 with “Outperform” rating. The company was initiated on Tuesday, January 19 by Barclays Capital.

According to Zacks Investment Research, “NovoCure Limited is an oncology company. The Company is engaged in developing a therapy called Tumor Treating Fields for the treatment of solid tumor cancers. It operates primarily in the United States, Germany, Switzerland and Japan. NovoCure Limited is based in Saint Helier, Channel Islands.”

More notable recent Novocure Ltd (NASDAQ:NVCR) news were published by: Marketwatch.com which released: “Novocure Ltd. NASDAQ: NVCR” on September 02, 2015, also Fool.com with their article: “Why Novocure Ltd Is Plunging Today” published on July 28, 2016, Quotes.Wsj.com published: “Novocure Ltd. NVCR (US: Nasdaq)” on September 02, 2015. More interesting news about Novocure Ltd (NASDAQ:NVCR) were released by: Marketwatch.com and their article: “NovoCure falls below reduced IPO price in market debut” published on October 02, 2015 as well as Reuters.com‘s news article titled: “NovoCure’s cancer therapy effective in late-stage study” with publication date: November 20, 2015.

NVCR Company Profile

NovoCure Limited, incorporated on February 11, 2000, is a commercial-stage oncology company. The Firm is engaged in developing a therapy called TTFields for the treatment of solid tumor cancers. TTFields is a low-toxicity anti-mitotic treatment that uses low-intensity, intermediate frequency, alternating electric fields to exert physical forces on molecules inside cancer cells, disrupting the basic machinery for normal cell division, leading to cancer cell death. A TTFields delivery system includes a portable electric field generator, transducer arrays, rechargeable batteries and accessories. The electric fields are delivered through the non-invasive, insulated transducer arrays that are placed directly on the skin in the region surrounding the tumor. The therapy is designed to be delivered throughout the day and night.

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