NovoCure Ltd (NVCR) Reports -56.05% Fall From For 52 Week High, It’s Always Darkest Before The Dawn

NovoCure Ltd (NASDAQ:NVCR) does about 1.42M shares in volume on a normal day but saw 1191973 shares change hands in Friday’s trading. The company now has a market cap of 2.31B USD. Its current market price is $21.50, marking a decrease of -2.93% compared to the previous close of $22.15. The 52 week high reached by this stock is $48.92 whilst the lowest price level in 52 weeks is $10.87.

NovoCure Ltd (NVCR) has a 20-day trading average at $21.90 and the current price is -56.05% off the 52-week high compared with 97.79% distance from its 52-week low. The 50-day simple moving average of the closing price is $17.00 and its 200-day simple moving average is $15.62. If we look at the stock’s price movements over the week, volatility stands at 5.45%, which increases to 6.50% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 55.55 to suggest the stock is neutral.

The consensus objective for the share price is $26.36, suggesting that the stock has a potential upside of 18.44% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on November 20, 2023 when JP Morgan resumed the stock to “Neutral” and issued a price target of $15. H.C. Wainwright downgraded the stock to “Neutral” from Buy on August 28, 2023 at a price target of $85-$25. Piper Sandler upgraded its price target at $45.

NovoCure Ltd (NVCR) stock is down -2.32% over the week and 34.12% over the past month. Its price is 44.01% year-to-date and -55.82% over the past year.

To reach the target analysts have set, the stock logically needs to grow 18.44 percent from here.

The company has a return on investment of -20.19% and return on equity of -48.70%. The beta has a value of 0.73. Price to book ratio is 6.44 and price to sales ratio is 4.40.