NovoCure (NASDAQ:NVCR) Issues Quarterly Earnings Results

NovoCure (NASDAQ:NVCR) posted its earnings results on Thursday. The medical equipment provider reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.27), Zacks reports. The company had revenue of $161.27 million for the quarter, compared to analyst estimates of $161.30 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%.

NovoCure Price Performance

NVCR stock traded down $0.89 during mid-day trading on Friday, hitting $18.34. The stock had a trading volume of 747,340 shares, compared to its average volume of 1,241,494. The firm has a fifty day simple moving average of $25.81 and a 200 day simple moving average of $21.41. NovoCure has a 52 week low of $11.70 and a 52 week high of $34.13. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $1.98 billion, a P/E ratio of -13.05 and a beta of 0.62.

Analyst Ratings Changes

Several research analysts recently weighed in on NVCR shares. HC Wainwright reissued a “buy” rating and set a $38.00 price objective on shares of NovoCure in a research note on Tuesday, January 14th. Wedbush reissued a “neutral” rating and issued a $29.00 price target on shares of NovoCure in a report on Monday, January 13th. Piper Sandler boosted their price target on NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and upped their target price for the company from $18.00 to $30.00 in a report on Monday, December 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.67.

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.