NovoCure (NASDAQ:NVCR) Issues Quarterly Earnings Results, Beats Expectations By $0.07 EPS

NovoCure (NASDAQ:NVCR) announced its earnings results on Thursday. The medical equipment provider reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.07, Briefing.com reports. NovoCure had a negative return on equity of 51.63% and a negative net margin of 40.65%. The firm had revenue of $138.50 million for the quarter, compared to the consensus estimate of $131.44 million. During the same quarter in the previous year, the business earned ($0.50) EPS. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis.

NovoCure Stock Up 4.2 %

NovoCure stock traded up $0.59 during mid-day trading on Friday, hitting $14.78. The company’s stock had a trading volume of 1,145,701 shares, compared to its average volume of 1,331,290. The company has a market cap of $1.59 billion, a PE ratio of -7.58 and a beta of 0.50. NovoCure has a 52-week low of $10.87 and a 52-week high of $83.60. The company has a debt-to-equity ratio of 1.57, a current ratio of 5.78 and a quick ratio of 5.56. The firm’s 50 day moving average is $14.21 and its 200 day moving average is $13.87.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NVCR. Wells Fargo & Company cut their price objective on shares of NovoCure from $49.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Piper Sandler restated an “overweight” rating and set a $28.00 price target (up from $25.00) on shares of NovoCure in a research report on Wednesday, April 10th. JPMorgan Chase & Co. upped their price target on shares of NovoCure from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Wedbush reiterated a “neutral” rating and set a $21.00 price objective on shares of NovoCure in a research note on Thursday. Finally, HC Wainwright cut their target price on 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.88.

Insider Transactions at NovoCure

In other NovoCure news, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $16.03, for a total value of $33,775.21. Following the completion of the sale, the chief operating officer now owns 252,452 shares in the company, valued at approximately $4,046,805.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $16.03, for a total transaction of $33,775.21. Following the transaction, the chief operating officer now owns 252,452 shares of the company’s stock, valued at $4,046,805.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Frank X. Leonard sold 1,679 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $16.03, for a total transaction of $26,914.37. Following the completion of the sale, the executive vice president now directly owns 160,938 shares of the company’s stock, valued at $2,579,836.14. The disclosure for this sale can be found here. Insiders sold 7,921 shares of company stock valued at $127,161 over the last three months. 5.67% of the stock is owned by corporate insiders.

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.