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

NovoCure (NASDAQ:NVCR) posted its quarterly earnings data on Wednesday. The medical equipment provider reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.06, Briefing.com reports. NovoCure had a negative return on equity of 41.47% and a negative net margin of 25.93%. The firm had revenue of $155.10 million during the quarter, compared to analyst estimates of $143.95 million. During the same period in the prior year, the business posted ($0.46) EPS. NovoCure’s revenue was up 21.8% on a year-over-year basis.

NovoCure Stock Performance

NovoCure stock opened at $15.18 on Friday. The company has a 50 day moving average price of $16.79 and a 200-day moving average price of $17.85. The company has a debt-to-equity ratio of 1.81, a quick ratio of 6.22 and a current ratio of 6.46. NovoCure has a fifty-two week low of $10.87 and a fifty-two week high of $24.74. The company has a market capitalization of $1.64 billion, a PE ratio of -10.84 and a beta of 0.70.

Analyst Ratings Changes

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

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.