NovoCure (NASDAQ:NVCR) Announces Quarterly Earnings Results

NovoCure (NASDAQ:NVCR) issued its quarterly earnings data on Thursday. The medical equipment provider reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.27), Zacks reports. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The business had revenue of $161.27 million during the quarter, compared to the consensus estimate of $161.30 million.

NovoCure Trading Down 0.8 %

Shares of NovoCure stock traded down $0.16 during trading on Friday, reaching $19.07. 2,308,824 shares of the company were exchanged, compared to its average volume of 1,245,626. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. NovoCure has a twelve month low of $11.70 and a twelve month high of $34.13. The business has a 50-day moving average price of $25.57 and a 200-day moving average price of $21.41. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -13.62 and a beta of 0.62.

Analysts Set New Price Targets

Several equities analysts have issued reports on NVCR shares. Evercore ISI upgraded NovoCure from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $18.00 to $30.00 in a research report on Monday, December 2nd. HC Wainwright restated a “buy” rating and set a $38.00 target price on shares of NovoCure in a research report on Tuesday, January 14th. Wedbush restated a “neutral” rating and set a $29.00 target price on shares of NovoCure in a research report on Monday, January 13th. Finally, Piper Sandler boosted their target price on NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NovoCure presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.67.

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.