NovoCure (NVCR) to Release Quarterly Earnings on Thursday

NovoCure (NASDAQ:NVCR) will be issuing its quarterly earnings data before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of ($0.42) per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

NovoCure (NASDAQ:NVCR) last announced its earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.08. The business had revenue of $133.80 million for the quarter, compared to analysts’ expectations of $133.80 million. NovoCure had a negative return on equity of 51.63% and a negative net margin of 40.65%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the firm posted ($0.36) earnings per share. On average, analysts expect NovoCure to post $-2 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

NovoCure Trading Down 4.4 %

Shares of NASDAQ:NVCR opened at $12.24 on Wednesday. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -6.28 and a beta of 0.42. The company has a debt-to-equity ratio of 1.57, a quick ratio of 5.56 and a current ratio of 5.78. The stock’s 50-day simple moving average is $14.29 and its two-hundred day simple moving average is $13.88. NovoCure has a 52-week low of $10.87 and a 52-week high of $83.60.

Insider Activity at NovoCure

In related news, EVP Frank X. Leonard sold 2,078 shares of NovoCure stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $16.14, for a total transaction of $33,538.92. Following the sale, the executive vice president now owns 162,617 shares of the company’s stock, valued at approximately $2,624,638.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NovoCure news, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of NovoCure stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $33,775.21. Following the sale, the chief operating officer now owns 252,452 shares of the company’s stock, valued at approximately $4,046,805.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Frank X. Leonard sold 2,078 shares of NovoCure stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $16.14, for a total value of $33,538.92. Following the completion of the sale, the executive vice president now directly owns 162,617 shares in the company, valued at approximately $2,624,638.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,921 shares of company stock valued at $127,161. 5.67% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on NVCR shares. HC Wainwright raised their target price on NovoCure from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 27th. Wedbush reaffirmed a “neutral” rating and issued a $21.00 price objective on shares of NovoCure in a research note on Wednesday, March 27th. Piper Sandler reaffirmed an “overweight” rating and issued a $28.00 price objective (up previously from $25.00) on shares of NovoCure in a research note on Wednesday, April 10th. Wells Fargo & Company decreased their price objective on NovoCure from $49.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. raised their price objective on NovoCure from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.13.

NovoCure Company Profile

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company's TTFields devices include Optune Gio and Optune Lua.