NovoCure Limited (NVCR) on Focus After Trading At 52-Week Highs

May 24, 2018 - By Stephen Andrade

The stock of NovoCure Limited (NASDAQ:NVCR) hit a new 52-week high and has $32.20 target or 5.00 % above today’s $30.67 share price. The 9 months bullish chart indicates low risk for the $2.78 billion company. The 1-year high was reported on May, 24 by Barchart.com. If the $32.20 price target is reached, the company will be worth $139.10M 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 increased 2.94% or $0.88 during the last trading session, reaching $30.67. About 382,100 shares traded. NovoCure Limited (NASDAQ:NVCR) has risen 174.34% since May 24, 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: Streetinsider.com which released: “Novocure (NVCR) Misses Q1 EPS by 10c, Miss on Revenues” on April 26, 2018, also Benzinga.com with 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, Nasdaq.com published: “This Explains Why NovoCure Is Surging Today” on April 26, 2018. More interesting news about NovoCure Limited (NASDAQ:NVCR) were released by: Seekingalpha.com and their article: “Novocure Hints To Additional Stellar Data And Validation” published on April 30, 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 $2.78 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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