NovoCure (NASDAQ:NVCR) Issues Quarterly Earnings Results

NovoCure (NASDAQ:NVCR) released its earnings results on Wednesday. The medical equipment provider reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06, Briefing.com reports. The firm had revenue of $155.10 million for the quarter, compared to analysts’ expectations of $143.95 million. NovoCure had a negative return on equity of 45.68% and a negative net margin of 30.67%. The company’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.46) earnings per share.

NovoCure Stock Performance

NovoCure stock traded down $1.66 during mid-day trading on Thursday, reaching $15.33. 905,114 shares of the stock traded hands, compared to its average volume of 1,311,362. NovoCure has a 12-month low of $10.87 and a 12-month high of $24.74. The business’s 50-day moving average is $16.83 and its 200-day moving average is $17.87. The company has a debt-to-equity ratio of 1.81, a current ratio of 6.46 and a quick ratio of 6.22. The stock has a market capitalization of $1.65 billion, a PE ratio of -8.51 and a beta of 0.70.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wedbush restated an “outperform” rating and set a $24.00 price objective on shares of NovoCure in a research note on Thursday, July 25th. Wells Fargo & Company reduced their price target on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of NovoCure in a research note on Thursday. Finally, Evercore ISI decreased their price target on NovoCure from $21.00 to $18.00 and set an “in-line” rating for the company in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $26.17.

NovoCure Company Profile

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.