Noteworthy Price Action: What’s in Novocure Ltd After Achieving 52 Week Low?


Noteworthy Price Action: What's in Novocure Ltd After Achieving 52 Week Low?

The stock of Novocure Ltd (NASDAQ:NVCR) hit a new 52-week low and has $6.92 target or 6.00% below today’s $7.36 share price. The 6 months bearish chart indicates high risk for the $605.43M company. The 1-year low was reported on Oct, 17 by If the $6.92 price target is reached, the company will be worth $36.33M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 71,568 shares traded hands. Novocure Ltd (NASDAQ:NVCR) has declined 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. JMP Securities initiated the shares of NVCR in a report on Tuesday, October 27 with “Market Outperform” rating. On Friday, July 29 the stock rating was maintained by Wedbush with “Outperform”. JP Morgan initiated the stock with “Overweight” rating in Tuesday, October 27 report. Wedbush initiated Novocure Ltd (NASDAQ:NVCR) on Tuesday, October 27 with “Outperform” rating. The stock has “Underweight” rating given by Barclays Capital on Tuesday, January 19. Deutsche Bank initiated the shares of NVCR in a report on Wednesday, December 2 with “Hold” rating.

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: which released: “Novocure Ltd. NASDAQ: NVCR” on September 02, 2015, also with their article: “Why Novocure Ltd Is Plunging Today” published on July 28, 2016, published: “Novocure Ltd. NVCR (US: Nasdaq)” on September 02, 2015. More interesting news about Novocure Ltd (NASDAQ:NVCR) were released by: and their article: “NovoCure falls below reduced IPO price in market debut” published on October 02, 2015 as well as‘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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