Could NovoCure Limited (NVCR) Lose its Strength? The Stock Reaches 52-Week High

May 15, 2018 - By Jan Rainey

The stock of NovoCure Limited (NASDAQ:NVCR) hit a new 52-week high and has $30.94 target or 7.00 % above today’s $28.92 share price. The 9 months bullish chart indicates low risk for the $2.62 billion company. The 1-year high was reported on May, 15 by Barchart.com. If the $30.94 price target is reached, the company will be worth $183.61M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 3.58% or $1.08 during the last trading session, reaching $28.92. About 780,153 shares traded. NovoCure Limited (NASDAQ:NVCR) has risen 174.34% since May 15, 2017 and is uptrending. It has outperformed by 162.79% the S&P500.

Analysts await NovoCure Limited (NASDAQ:NVCR) to report earnings on July, 26. They expect $-0.16 EPS, up 33.33 % or $0.08 from last year’s $-0.24 per share. After $-0.23 actual EPS reported by NovoCure Limited for the previous quarter, Wall Street now forecasts -30.43 % EPS growth.

More notable recent NovoCure Limited (NASDAQ:NVCR) news were published by: Seekingalpha.com which released: “Novocure’s TTFields show positive effect in mid-stage mesothelioma study” on April 17, 2018, also Seekingalpha.com with their article: “Novocure Hints To Additional Stellar Data And Validation” published on April 30, 2018, Seekingalpha.com published: “Novocure’s (NVCR) CEO Asaf Danziger on Q1 2018 Results – Earnings Call Transcript” on April 26, 2018. More interesting news about NovoCure Limited (NASDAQ:NVCR) were released by: Benzinga.com and their article: “Benzinga’s Daily Biotech Pulse: ARMO Skyrockets On Eli Lilly Deal, Akcea Meets FDA Panel, vTv Alzheimer’s Trial …” published on May 10, 2018 as well as Seekingalpha.com‘s news article titled: “NovoCure: 2018 Off To A Strong Start For Optune” with publication date: April 30, 2018.

NovoCure Limited engages in the development, manufacture, and commercialization of tumor treating fields for the treatment of solid tumors. The company has market cap of $2.62 billion. The firm markets its proprietary therapy, TTFields delivery system under the Optune name for use as a monotherapy treatment for adult patients with glioblastoma brain cancer. It currently has negative earnings. It is also involved in conducting clinical trials for the use of TTFields in brain metastases, non-small cell lung cancer, pancreatic cancer, ovarian cancer, and mesothelioma.

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