NovoCure (NASDAQ:NVCR) Posts Earnings Results

NovoCure (NASDAQ:NVCR) announced its quarterly earnings data on Thursday. The medical equipment provider reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $138.50 million during the quarter, compared to the consensus estimate of $131.44 million. During the same quarter in the previous year, the business earned ($0.50) earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis.

NovoCure Stock Performance

Shares of NASDAQ:NVCR traded up $0.59 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. NovoCure has a 12 month low of $10.87 and a 12 month high of $83.60. The stock’s 50-day moving average is $14.21 and its two-hundred day moving average is $13.87. 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 company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -7.58 and a beta of 0.50.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on NovoCure from $49.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. JPMorgan Chase & Co. upped their price objective on shares of NovoCure from $15.00 to $17.00 and gave the company a “neutral” rating in a research report 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. Piper Sandler reissued an “overweight” rating and issued a $28.00 target price (up previously from $25.00) on shares of NovoCure in a research report on Wednesday, April 10th. Finally, Evercore ISI lifted their target price on NovoCure from $14.00 to $15.00 and gave the stock an “in-line” rating in a research report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, NovoCure presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.88.

Insider Buying and Selling

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 in the company, valued at $4,046,805.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Frank X. Leonard sold 1,679 shares of the business’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 value of $26,914.37. Following the sale, the executive vice president now directly owns 160,938 shares in the company, valued at approximately $2,579,836.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of the firm’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 $33,775.21. Following the sale, the chief operating officer now owns 252,452 shares of the company’s stock, valued at $4,046,805.56. The disclosure for this sale can be found here. Insiders sold 7,921 shares of company stock valued at $127,161 over the last 90 days. 5.67% of the stock is currently owned by company insiders.

About NovoCure

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.