Price Action to Note: What’s Novocure Ltd Downside After Reaching 1 Year Low?

Price Action to Note: What's Novocure Ltd Downside After Reaching 1 Year Low?

The stock of Novocure Ltd (NASDAQ:NVCR) hit a new 52-week low and has $6.60 target or 9.00% below today’s $7.25 share price. The 6 months bearish chart indicates high risk for the $611.59 million company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $6.60 price target is reached, the company will be worth $55.04M 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. The stock increased 21.85% or $1.3 during the last trading session, hitting $7.25. About 1.33 million shares traded hands or 503.56% up from the average. Novocure Ltd (NASDAQ:NVCR) has declined 58.91% since March 31, 2016 and is downtrending. It has underperformed by 61.43% 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 stock has “Outperform” rating given by Wedbush on Tuesday, October 27. As per Friday, July 29, the company rating was maintained by Wedbush. Barclays Capital initiated the stock with “Underweight” rating in Tuesday, January 19 report. Deutsche Bank initiated the stock with “Hold” rating in Wednesday, December 2 report. JP Morgan initiated it with “Overweight” rating and $29 target price in Tuesday, October 27 report. The firm has “Market Outperform” rating given on Tuesday, October 27 by JMP Securities.

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, Nasdaq.com published: “Mid-Afternoon Market Update: Tandem Diabetes Drops Following Weak Q3 Results …” on November 02, 2016. More interesting news about Novocure Ltd (NASDAQ:NVCR) were released by: Quotes.Wsj.com and their article: “Novocure Ltd. NVCR (US: Nasdaq)” published on September 02, 2015 as well as Marketwatch.com‘s news article titled: “NovoCure falls below reduced IPO price in market debut” 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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