NovoCure (NVCR) Set to Announce Earnings on Thursday

Posted by Defense World Staff on Oct 19th, 2023

NovoCure (NASDAQ:NVCR – Get Free Report) is scheduled to release its earnings data before the market opens on Thursday, October 26th. Analysts expect NovoCure to post earnings of ($0.51) per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

NovoCure (NASDAQ:NVCR – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.04). NovoCure had a negative net margin of 34.35% and a negative return on equity of 40.21%. The company had revenue of $126.05 million during the quarter, compared to the consensus estimate of $124.25 million. During the same period in the previous year, the company earned ($0.23) earnings per share. NovoCure’s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, analysts expect NovoCure to post $-2 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

NovoCure Stock Down 2.4 %

Shares of NVCR opened at $15.25 on Thursday. The firm has a market cap of $1.63 billion, a P/E ratio of -9.24 and a beta of 0.70. The company has a debt-to-equity ratio of 1.36, a quick ratio of 6.88 and a current ratio of 7.10. NovoCure has a 52 week low of $13.46 and a 52 week high of $120.03. The firm’s 50-day simple moving average is $20.88 and its 200 day simple moving average is $42.69.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. StockNews.com downgraded NovoCure from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Leerink Partnrs reissued an “outperform” rating on shares of NovoCure in a report on Friday, August 4th. SVB Securities began coverage on shares of NovoCure in a research note on Friday, August 4th. They issued an “outperform” rating and a $51.00 price target on the stock. Piper Sandler upgraded shares of NovoCure from a “neutral” rating to an “overweight” rating and set a $45.00 price objective for the company in a research note on Tuesday, August 8th. Finally, HC Wainwright lowered shares of NovoCure from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $85.00 to $25.00 in a research report on Monday, August 28th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $52.38.

Check Out Our Latest Research Report on NVCR

Institutional Trading of NovoCure

Several large investors have recently bought and sold shares of the business. Allstate Investment Management Co. bought a new position in shares of NovoCure in the fourth quarter worth about $290,000. Franklin Resources Inc. lifted its stake in NovoCure by 18.6% in the 2nd quarter. Franklin Resources Inc. now owns 6,902 shares of the medical equipment provider’s stock valued at $286,000 after purchasing an additional 1,083 shares during the last quarter. XTX Topco Ltd bought a new position in NovoCure in the 1st quarter valued at approximately $240,000. US Bancorp DE boosted its position in NovoCure by 18.9% in the first quarter. US Bancorp DE now owns 2,857 shares of the medical equipment provider’s stock valued at $237,000 after buying an additional 454 shares in the last quarter. Finally, Private Advisor Group LLC bought a new stake in shares of NovoCure during the first quarter worth $235,000. 84.11% of the stock is owned by institutional investors and hedge funds.

NovoCure Company Profile

(Get Free Report)

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, Europe, the Middle East, Africa, Japan, and Greater China. Its TTFields devices include Optune for the treatment of glioblastoma; and Optune Lua for the treatment of malignant pleural mesothelioma.