NovoCure Ltd (NASDAQ:NVCR) price on Friday, February 07, fall -2.97% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $22.25.
A look at the stock’s price movement, the close in the last trading session was $22.93, moving within a range at $22.03 and $23.18. The beta value (5-Year monthly) was 0.705. Turning to its 52-week performance, $34.13 and $11.70 were the 52-week high and 52-week low respectively. Overall, NVCR moved -23.30% over the past month.
NovoCure Ltd’s market cap currently stands at around $2.41 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 161.3M for the company’s revenue for the quarter, with a low and high estimate of 161.3M and 161.3M respectively. The average forecast suggests up to a 20.57% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 605.24M, representing a 18.83% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that NVCR is a Hold. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
5 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 3 analyst(s) rate the stock as a Hold, 1 recommend NVCR as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
NVCR’s current price about -12.75% and -18.90% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 28.09, while 7-day volatility ratio is 4.50% and 4.65% in the 30-day chart. Further, NovoCure Ltd (NVCR) has a beta value of 0.59, and an average true range (ATR) of 1.27. Analysts have given the company’s stock an average 52-week price target of $30, forecast between a low of $30 and high of $30. Looking at the price targets, the low is -34.83% off current price level while to achieve the yearly target high, price needs to move -34.83%. Nonetheless, investors will most likely welcome a -34.83% jump to $30 which is the analysts’ median price.
If we refocus on NovoCure Ltd (NASDAQ:NVCR), historical trading data shows that trading volumes averaged 0.75 over the past 10 days and 1.20 million over the past 3 months. The company’s latest data on shares outstanding shows there are 108.10 million shares.
The 10.40% of NovoCure Ltd’s shares are in the hands of company insiders while institutional holders own 85.63% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 4.87 million on 2025-01-15, giving us a short ratio of 4.65. The data shows that as of 2025-01-15 short interest in NovoCure Ltd (NVCR) stood at 538.0 of shares outstanding, with shares short falling to 5.19 million registered in 2024-12-13. Current price change has pushed the stock -25.34% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the NVCR stock continues to rise going into the next quarter.
