NovoCure (NVCR) Scheduled to Post Earnings on Thursday

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

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

NovoCure Stock Up 2.4 %

Shares of NVCR opened at $12.34 on Thursday. The stock has a 50 day moving average price of $14.57 and a 200 day moving average price of $13.94. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -6.33 and a beta of 0.42. 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 one year low of $10.87 and a one year high of $83.60.

Insider Activity

In other news, EVP Frank X. Leonard sold 2,078 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $16.14, for a total value of $33,538.92. Following the transaction, the executive vice president now owns 162,617 shares of the company’s stock, valued at approximately $2,624,638.38. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Frank X. Leonard sold 2,078 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $16.14, for a total value of $33,538.92. Following the sale, the executive vice president now owns 162,617 shares in the company, valued at approximately $2,624,638.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Frank X. Leonard sold 1,679 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 160,938 shares in the company, valued at approximately $2,579,836.14. The disclosure for this sale can be found here. Insiders have sold a total of 7,921 shares of company stock valued at $127,161 in the last quarter. Insiders own 5.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Piper Sandler reissued an “overweight” rating and set a $28.00 price objective (up previously from $25.00) on shares of NovoCure in a research note on Wednesday, April 10th. Evercore ISI boosted their price objective on NovoCure from $14.00 to $15.00 and gave the stock an “in-line” rating in a research note on Friday, February 23rd. Wells Fargo & Company lowered their price objective on NovoCure from $49.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. HC Wainwright boosted their price objective on NovoCure from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. boosted their price objective on NovoCure from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.