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

NovoCure (NASDAQ:NVCR) announced its quarterly earnings results on Thursday. The medical equipment provider reported ($0.36) EPS for the quarter, topping 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%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.50) earnings per share.

NovoCure Stock Performance

NVCR stock opened at $14.78 on Friday. The business has a 50 day moving average of $14.20 and a 200 day moving average of $13.85. NovoCure has a twelve month low of $10.87 and a twelve month high of $83.60. The company has a quick ratio of 5.56, a current ratio of 5.78 and a debt-to-equity ratio of 1.57.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. 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. JPMorgan Chase & Co. raised their price objective on shares of NovoCure from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. Evercore ISI upped their target price on NovoCure from $14.00 to $15.00 and gave the stock an “in-line” rating in a report on Friday, February 23rd. Piper Sandler restated an “overweight” rating and issued a $28.00 target price (up previously from $25.00) on shares of NovoCure in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company reduced their price target on NovoCure from $49.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, NovoCure currently has an average rating of “Moderate Buy” and a consensus price target of $30.88.

Insiders Place Their Bets

In related news, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.03, for a total value of $33,775.21. Following the transaction, the chief operating officer now owns 252,452 shares in the company, valued at approximately $4,046,805.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 completion of the sale, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Frank X. Leonard sold 1,679 shares of the company’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 completion of the transaction, the executive vice president now directly owns 160,938 shares in the company, valued at $2,579,836.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,921 shares of company stock valued at $127,161. 5.67% of the stock is currently owned by corporate 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.