NovoCure (NASDAQ:NVCR) Posts Earnings Results, Beats Expectations By $0.09 EPS

NovoCure (NASDAQ:NVCR) issued its quarterly earnings results on Thursday. The medical equipment provider reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.09, Briefing.com reports. The company had revenue of $150.40 million during the quarter, compared to analyst estimates of $135.83 million. NovoCure had a negative net margin of 36.67% and a negative return on equity of 50.35%. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.54) EPS.

NovoCure Trading Up 2.0 %

Shares of NASDAQ:NVCR traded up $0.37 during mid-day trading on Friday, hitting $19.02. The stock had a trading volume of 1,167,901 shares, compared to its average volume of 1,409,496. The company has a debt-to-equity ratio of 1.59, a quick ratio of 5.99 and a current ratio of 6.26. The company has a market cap of $2.05 billion, a PE ratio of -10.51 and a beta of 0.70. NovoCure has a 12-month low of $10.87 and a 12-month high of $41.51. The company’s 50 day moving average is $19.84 and its 200-day moving average is $16.53.

Wall Street Analysts Forecast Growth

NVCR has been the subject of a number of research analyst reports. 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 note on Friday. HC Wainwright increased their target price on shares of NovoCure from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday. Piper Sandler reissued an “overweight” rating and set a $28.00 target price (up from $25.00) on shares of NovoCure in a research note on Wednesday, April 10th. Evercore ISI increased their target price on shares of NovoCure from $14.50 to $20.00 and gave the company an “in-line” rating in a research note on Tuesday, July 2nd. Finally, Wedbush reissued an “outperform” rating and set a $24.00 target price on shares of NovoCure in a research note on Thursday. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.88.

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.