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

NovoCure (NASDAQ:NVCR) released its quarterly earnings data on Thursday. The medical equipment provider reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.07, Briefing.com reports. The firm had revenue of $138.50 million during the quarter, compared to analysts’ expectations of $131.44 million. NovoCure had a negative return on equity of 51.63% and a negative net margin of 40.65%. NovoCure’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.50) earnings per share.

NovoCure Price Performance

Shares of NVCR traded up $0.59 during trading hours on Friday, reaching $14.78. 1,145,701 shares of the company traded hands, compared to its average volume of 1,331,290. The stock has a market capitalization of $1.59 billion, a PE ratio of -7.58 and a beta of 0.50. The stock has a fifty day simple moving average of $14.21 and a 200 day simple moving average of $13.87. NovoCure has a fifty-two week low of $10.87 and a fifty-two week 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 Analyst Weigh In

A number of analysts recently commented on NVCR shares. Piper Sandler reissued an “overweight” rating and set a $28.00 price objective (up previously from $25.00) on shares of NovoCure in a report on Wednesday, April 10th. HC Wainwright decreased their price target on NovoCure from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday. Wells Fargo & Company dropped their price objective on NovoCure from $49.00 to $42.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Wedbush reiterated a “neutral” rating and set a $21.00 target price on shares of NovoCure in a research report on Thursday. Finally, Evercore ISI raised their price target on NovoCure from $14.00 to $15.00 and gave the company an “in-line” rating in a research report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.88.

Insider Buying and Selling

In other news, COO Wilhelmus Cm Groenhuysen sold 2,107 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 $33,775.21. Following the completion of the transaction, the chief operating officer now owns 252,452 shares of the company’s stock, valued at $4,046,805.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Frank X. Leonard sold 2,078 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $16.14, for a total transaction of $33,538.92. Following the transaction, the executive vice president now directly owns 162,617 shares in the company, valued at $2,624,638.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of NovoCure 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 completion of the sale, the chief operating officer now owns 252,452 shares of the company’s stock, valued at approximately $4,046,805.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,921 shares of company stock worth $127,161. 5.67% of the stock is 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.