Wall Street brokerages forecast that NovoCure (NASDAQ:NVCR) will report ($0.15) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for NovoCure’s earnings. The lowest EPS estimate is ($0.19) and the highest is ($0.11). NovoCure reported earnings per share of ($0.24) in the same quarter last year, which suggests a positive year over year growth rate of 37.5%. The firm is scheduled to issue its next quarterly earnings results on Thursday, July 26th.
According to Zacks, analysts expect that NovoCure will report full-year earnings of ($0.60) per share for the current fiscal year, with EPS estimates ranging from ($0.86) to ($0.36). For the next financial year, analysts expect that the firm will report earnings of $0.32 per share, with EPS estimates ranging from ($0.33) to $1.02. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for NovoCure.
Get NovoCure alerts:NovoCure (NASDAQ:NVCR) last posted its quarterly earnings results on Thursday, April 26th. The medical equipment provider reported ($0.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.10). NovoCure had a negative net margin of 33.12% and a negative return on equity of 56.70%. The business had revenue of $52.13 million during the quarter, compared to analyst estimates of $57.13 million.
A number of analysts have weighed in on NVCR shares. Deutsche Bank upgraded NovoCure from a “hold” rating to a “buy” rating and cut their price target for the company from $23.80 to $19.00 in a research note on Thursday, April 19th. BidaskClub cut NovoCure from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. Mizuho restated a “buy” rating and issued a $28.00 price target (up from $25.00) on shares of NovoCure in a research note on Friday, February 23rd. Zacks Investment Research upgraded NovoCure from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, April 26th. Finally, Wedbush raised their price target on NovoCure from $29.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, April 27th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $27.75.
In other NovoCure news, Director Gabriel Leung sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $28.83, for a total transaction of $2,306,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Wilhelmus Cm Groenhuysen sold 30,470 shares of the firm’s stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $27.58, for a total value of $840,362.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 480,333 shares of company stock worth $12,265,319. Corporate insiders own 15.30% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Stratos Wealth Partners LTD. purchased a new position in shares of NovoCure during the first quarter worth about $109,000. Two Sigma Advisers LP purchased a new position in shares of NovoCure during the fourth quarter worth about $211,000. UBS Group AG grew its holdings in shares of NovoCure by 379.2% during the first quarter. UBS Group AG now owns 9,809 shares of the medical equipment provider’s stock worth $214,000 after buying an additional 7,762 shares during the last quarter. Elkfork Partners LLC purchased a new position in shares of NovoCure during the fourth quarter worth about $225,000. Finally, Lazard Asset Management LLC purchased a new position in shares of NovoCure during the fourth quarter worth about $271,000. 48.14% of the stock is currently owned by institutional investors.
NovoCure traded down $0.20, reaching $30.35, during midday trading on Friday, Marketbeat.com reports. The company’s stock had a trading volume of 470,400 shares, compared to its average volume of 922,591. NovoCure has a fifty-two week low of $12.10 and a fifty-two week high of $31.20. The company has a debt-to-equity ratio of 1.41, a current ratio of 6.32 and a quick ratio of 5.87. The stock has a market cap of $2.70 billion, a PE ratio of -43.36 and a beta of 3.07.
NovoCure Company Profile
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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