NovoCure (NASDAQ:NVCR) Posts Earnings Results, Beats Expectations By $0.06 EPS

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

NovoCure Stock Down 9.8 %

NASDAQ NVCR traded down $1.66 during trading hours on Thursday, reaching $15.33. 905,114 shares of the company’s stock traded hands, compared to its average volume of 1,311,362. NovoCure has a 52-week low of $10.87 and a 52-week high of $24.74. 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 firm has a 50-day simple moving average of $16.83 and a 200 day simple moving average of $17.87. The firm has a market cap of $1.65 billion, a PE ratio of -8.51 and a beta of 0.70.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wells Fargo & Company reduced their price target on NovoCure from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Wedbush reiterated an “outperform” rating and set a $24.00 target price on shares of NovoCure in a report on Thursday, July 25th. Evercore ISI lowered their price target on NovoCure from $21.00 to $18.00 and set an “in-line” rating for the company in a research report on Tuesday, October 1st. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of NovoCure in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.17.

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.