Wall Street brokerages predict that NovoCure Limited (NASDAQ:NVCR) will announce ($0.15) earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for NovoCure Limited’s earnings, with estimates ranging from ($0.16) to ($0.14). NovoCure Limited reported earnings of ($0.26) per share in the same quarter last year, which indicates a positive year over year growth rate of 42.3%. The company is scheduled to report its next quarterly earnings report on Thursday, February 22nd.
According to Zacks, analysts expect that NovoCure Limited will report full year earnings of ($0.63) per share for the current year, with EPS estimates ranging from ($0.73) to ($0.45). For the next year, analysts expect that the company will report earnings of ($0.36) per share, with EPS estimates ranging from ($0.68) to ($0.16). Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover NovoCure Limited.
NovoCure Limited (NASDAQ:NVCR) last posted its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.07. The firm had revenue of $50.10 million for the quarter, compared to analysts’ expectations of $43.45 million. NovoCure Limited had a negative return on equity of 57.68% and a negative net margin of 47.45%. The company’s revenue for the quarter was up 130.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.39) EPS.
A number of research firms have issued reports on NVCR. BidaskClub cut NovoCure Limited from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research cut NovoCure Limited from a “buy” rating to a “hold” rating in a report on Friday. Deutsche Bank AG reiterated a “hold” rating and issued a $19.00 target price (up from $18.00) on shares of NovoCure Limited in a report on Monday, July 17th. Mizuho started coverage on NovoCure Limited in a report on Wednesday, September 6th. They issued a “buy” rating and a $25.00 target price on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $25.00 target price (down from $29.00) on shares of NovoCure Limited in a report on Friday, October 27th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $21.00.
NovoCure Limited (NASDAQ:NVCR) traded down $0.25 during trading on Friday, hitting $17.05. The company’s stock had a trading volume of 783,400 shares, compared to its average volume of 853,648. NovoCure Limited has a 52-week low of $6.00 and a 52-week high of $22.30. The company has a current ratio of 5.90, a quick ratio of 5.30 and a debt-to-equity ratio of 0.83.
In other NovoCure Limited news, COO Michael J. Ambrogi sold 24,327 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $22.01, for a total transaction of $535,437.27. Following the transaction, the chief operating officer now directly owns 49,514 shares in the company, valued at approximately $1,089,803.14. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Yoram Palti sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $18.25, for a total value of $547,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 269,953 shares of company stock worth $5,764,863. 16.70% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the business. Bank of Montreal Can lifted its stake in NovoCure Limited by 1,919.7% during the 2nd quarter. Bank of Montreal Can now owns 7,069 shares of the medical equipment provider’s stock valued at $122,000 after acquiring an additional 6,719 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in NovoCure Limited by 792.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,229 shares of the medical equipment provider’s stock valued at $125,000 after acquiring an additional 6,419 shares in the last quarter. Nisa Investment Advisors LLC bought a new position in NovoCure Limited during the 2nd quarter valued at $126,000. Trexquant Investment LP bought a new position in NovoCure Limited during the 3rd quarter valued at $212,000. Finally, Fox Run Management L.L.C. bought a new position in NovoCure Limited during the 2nd quarter valued at $225,000. Institutional investors and hedge funds own 36.21% of the company’s stock.
NovoCure Limited 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for NovoCure Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NovoCure Limited and related companies with MarketBeat.com's FREE daily email newsletter.