Analysts forecast that Novocure Ltd (NASDAQ:NVCR) will report ($0.14) earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have issued estimates for Novocure’s earnings, with the lowest EPS estimate coming in at ($0.16) and the highest estimate coming in at ($0.11). Novocure posted earnings of ($0.26) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 46.2%. The business is scheduled to issue its next quarterly earnings report on Thursday, February 22nd.
On average, analysts expect that Novocure will report full year earnings of ($0.65) per share for the current year, with EPS estimates ranging from ($0.73) to ($0.45). For the next fiscal year, analysts forecast that the firm will post earnings of ($0.32) per share, with EPS estimates ranging from ($0.56) to ($0.16). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that cover Novocure.
Novocure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported ($0.13) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.07. The company had revenue of $50.10 million for the quarter, compared to the consensus estimate of $43.45 million. Novocure had a negative return on equity of 57.68% and a negative net margin of 47.45%. The company’s revenue for the quarter was up 130.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.39) EPS.
Several research analysts have commented on NVCR shares. Wedbush reaffirmed an “outperform” rating and issued a $25.00 price target (down from $29.00) on shares of Novocure in a research report on Friday, October 27th. Zacks Investment Research raised Novocure from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Wednesday. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Novocure in a research report on Monday, November 20th. ValuEngine raised Novocure from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Mizuho reaffirmed a “buy” rating and issued a $25.00 price target on shares of Novocure in a research report on Friday, December 1st. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $21.13.
In other news, insider Yoram Palti sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $21.06, for a total transaction of $1,263,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Wilhelmus Cm Groenhuysen sold 28,868 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $21.03, for a total value of $607,094.04. Following the sale, the chief financial officer now owns 268,568 shares in the company, valued at $5,647,985.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 255,149 shares of company stock worth $5,264,301. 16.70% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the business. GSA Capital Partners LLP bought a new stake in Novocure in the third quarter valued at $478,000. Pier Capital LLC bought a new stake in Novocure in the third quarter valued at $5,426,000. Stifel Financial Corp bought a new stake in Novocure in the third quarter valued at $1,778,000. Wells Fargo & Company MN grew its position in Novocure by 44.8% in the third quarter. Wells Fargo & Company MN now owns 66,058 shares of the medical equipment provider’s stock valued at $1,312,000 after acquiring an additional 20,439 shares during the period. Finally, Trexquant Investment LP bought a new stake in Novocure in the third quarter valued at $212,000. Hedge funds and other institutional investors own 41.53% of the company’s stock.
Novocure (NASDAQ NVCR) opened at $20.80 on Wednesday. The company has a quick ratio of 5.30, a current ratio of 5.90 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $1,900.00 and a P/E ratio of -25.06. Novocure has a 1 year low of $6.00 and a 1 year high of $22.30.
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NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.
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