NovoCure (NASDAQ:NVCR) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

NovoCure (NASDAQ:NVCR) released its earnings results on Thursday. The medical equipment provider reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.07, Briefing.com reports. The company had revenue of $138.50 million during the quarter, compared to analyst estimates of $131.44 million. NovoCure had a negative return on equity of 49.34% and a negative net margin of 36.67%. NovoCure’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.50) EPS.

NovoCure Stock Performance

Shares of NASDAQ NVCR opened at $14.78 on Friday. NovoCure has a 52-week low of $10.87 and a 52-week high of $83.60. The firm’s 50 day moving average price is $14.21 and its 200-day moving average price is $13.87. The company has a current ratio of 5.78, a quick ratio of 5.56 and a debt-to-equity ratio of 1.57.

Insider Activity at NovoCure

In other news, EVP Frank X. Leonard sold 1,679 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $26,914.37. Following the completion of the transaction, the executive vice president now owns 160,938 shares in the company, valued at $2,579,836.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Frank X. Leonard sold 1,679 shares of NovoCure stock in a transaction on Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $26,914.37. Following the completion of the sale, the executive vice president now owns 160,938 shares of the company’s stock, valued at $2,579,836.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Frank X. Leonard sold 2,078 shares of the company’s stock in a transaction dated 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 owns 162,617 shares of the company’s stock, valued at approximately $2,624,638.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,921 shares of company stock valued at $127,161. 5.67% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on NVCR. Evercore ISI raised their target price on shares of NovoCure from $14.00 to $15.00 and gave the stock an “in-line” rating in a report on Friday, February 23rd. Wells Fargo & Company decreased their price objective on shares of NovoCure from $49.00 to $42.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. increased their target price on shares of NovoCure from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. Wedbush reaffirmed a “neutral” rating and issued a $21.00 price target on shares of NovoCure in a research note on Thursday. Finally, HC Wainwright dropped their target price on shares of NovoCure from $24.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.88.

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.