Engineers Gate Manager LP increased its stake in shares of Novocure Ltd (NASDAQ:NVCR) by 202.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 67,899 shares of the medical equipment provider’s stock after acquiring an additional 45,438 shares during the period. Engineers Gate Manager LP’s holdings in Novocure were worth $1,372,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of NVCR. Ameriprise Financial Inc. bought a new position in Novocure in the 3rd quarter valued at $1,163,000. Gotham Asset Management LLC bought a new position in Novocure in the 2nd quarter valued at $534,000. Wells Fargo & Company MN raised its position in Novocure by 44.8% in the 3rd quarter. Wells Fargo & Company MN now owns 66,058 shares of the medical equipment provider’s stock valued at $1,312,000 after purchasing an additional 20,439 shares during the last quarter. Sei Investments Co. bought a new position in Novocure in the 3rd quarter valued at $397,000. Finally, Frontier Capital Management Co. LLC raised its position in Novocure by 29.8% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,081,898 shares of the medical equipment provider’s stock valued at $21,854,000 after purchasing an additional 248,322 shares during the last quarter. Institutional investors and hedge funds own 41.82% of the company’s stock.
Shares of Novocure Ltd (NASDAQ:NVCR) opened at $20.95 on Friday. Novocure Ltd has a 52-week low of $6.70 and a 52-week high of $24.15. The company has a current ratio of 5.90, a quick ratio of 5.30 and a debt-to-equity ratio of 0.83.
Several brokerages have issued reports on NVCR. BidaskClub upgraded Novocure from a “hold” rating to a “buy” rating in a research report on Saturday, January 13th. Wedbush restated an “outperform” rating and set a $25.00 target price (down previously from $29.00) on shares of Novocure in a research report on Friday, October 27th. JPMorgan Chase & Co. restated a “buy” rating on shares of Novocure in a research report on Monday, November 20th. Zacks Investment Research upgraded Novocure from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Tuesday, October 31st. Finally, ValuEngine upgraded Novocure from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $21.13.
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Novocure Company Profile
NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.
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