Novocure (NVCR) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS
Novocure (NASDAQ:NVCR) released its earnings results on Thursday. The medical equipment provider reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.02, Morningstar.com reports. The business had revenue of $53.66 million for the quarter, compared to the consensus estimate of $53.17 million. Novocure had a negative return on equity of 50.94% and a negative net margin of 34.83%. The business’s quarterly revenue was up 77.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.26) earnings per share.
Novocure (NASDAQ:NVCR) opened at $19.30 on Friday. Novocure has a 1 year low of $6.75 and a 1 year high of $24.15. The company has a market capitalization of $1,851.58, a P/E ratio of -27.57 and a beta of 3.74. The company has a debt-to-equity ratio of 0.83, a quick ratio of 5.30 and a current ratio of 5.90.
In other Novocure news, General Counsel Todd Christopher Longsworth sold 11,630 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $24.00, for a total transaction of $279,120.00. Following the completion of the sale, the general counsel now owns 16,628 shares of the company’s stock, valued at $399,072. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Asaf Danziger sold 336,420 shares of the firm’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $22.33, for a total value of $7,512,258.60. Following the sale, the chief executive officer now directly owns 435,863 shares of the company’s stock, valued at approximately $9,732,820.79. The disclosure for this sale can be found here. In the last quarter, insiders have sold 483,092 shares of company stock worth $10,737,084. 16.70% of the stock is currently owned by company insiders.
A number of equities analysts recently commented on NVCR shares. Wedbush reiterated an “outperform” rating and set a $25.00 price objective (down previously from $29.00) on shares of Novocure in a research report on Friday, October 27th. Zacks Investment Research upgraded Novocure from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Wednesday, January 3rd. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Novocure in a research report on Monday, November 20th. BidaskClub upgraded Novocure from a “hold” rating to a “buy” rating in a research report on Saturday, January 13th. Finally, ValuEngine upgraded Novocure from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $21.50.
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Novocure 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.
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