Worth Watching: After Achieving All-Time Low, Is Novocure Ltd’s Near-Term Analysis Positive?

Worth Watching: After Achieving All Time Low, Is Novocure Ltd's Near Term Analysis Positive?

The stock of Novocure Ltd (NASDAQ:NVCR) reached all time low today, Oct, 28 and still has $5.69 target or 7.00% below today’s $6.12 share price. This indicates more downside for the $508.51 million company. This technical setup was reported by Barchart.com. If the $5.69 PT is reached, the company will be worth $35.60M 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. About 227,551 shares traded hands or 5.09% up from the average. Novocure Ltd (NASDAQ:NVCR) has declined 51.83% since March 28, 2016 and is downtrending. It has underperformed by 56.54% the S&P500.

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. The firm earned “Outperform” rating on Tuesday, October 27 by Wedbush. As per Wednesday, December 2, the company rating was initiated by Deutsche Bank. The rating was initiated by Barclays Capital with “Underweight” on Tuesday, January 19. On Tuesday, October 27 the stock rating was initiated by JMP Securities with “Market Outperform”. The stock of Novocure Ltd (NASDAQ:NVCR) has “Overweight” rating given on Tuesday, October 27 by JP Morgan. The firm earned “Outperform” rating on Friday, July 29 by Wedbush.

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 Marketwatch.com‘s news article titled: “NovoCure prices IPO at $22 a share” with publication date: October 02, 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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