NovoCure (NVCR) to Release Quarterly Earnings on Thursday

NovoCure (NASDAQ:NVCR) is scheduled to issue its quarterly earnings data before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of ($0.42) per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.08. NovoCure had a negative net margin of 40.65% and a negative return on equity of 51.63%. The firm had revenue of $133.80 million during the quarter, compared to analyst estimates of $133.80 million. During the same quarter last year, the business earned ($0.36) EPS. The company’s revenue was up 4.2% compared to the same quarter last year. On average, analysts expect NovoCure to post $-2 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

NovoCure Stock Down 4.4 %

NovoCure stock opened at $12.24 on Wednesday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 5.56 and a current ratio of 5.78. NovoCure has a 52-week low of $10.87 and a 52-week high of $83.60. The firm has a 50 day moving average price of $14.29 and a two-hundred day moving average price of $13.88. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -6.28 and a beta of 0.42.

Insiders Place Their Bets

In other news, EVP Frank X. Leonard sold 1,679 shares of NovoCure stock in a transaction 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of NovoCure stock in a transaction 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 directly owns 252,452 shares in the company, valued at approximately $4,046,805.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Frank X. Leonard sold 1,679 shares of NovoCure stock in a transaction on Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $26,914.37. Following the sale, the executive vice president now owns 160,938 shares in the company, valued at $2,579,836.14. The disclosure for this sale can be found here. Insiders have sold 7,921 shares of company stock valued at $127,161 in the last three months. 5.67% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating and issued a $28.00 price objective (up previously from $25.00) on shares of NovoCure in a research note on Wednesday, April 10th. Evercore ISI lifted their price objective on shares of NovoCure from $14.00 to $15.00 and gave the company an “in-line” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. lifted their price objective on shares of NovoCure from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. Wedbush reissued a “neutral” rating and issued a $21.00 price target on shares of NovoCure in a research report on Wednesday, March 27th. Finally, Wells Fargo & Company reduced their price target on shares of NovoCure from $49.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Five investment 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 presently has an average rating of “Moderate Buy” and a consensus target price of $31.13.

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.