Novocure Ltd (NASDAQ:NVCR) – Equities researchers at Wedbush cut their Q1 2020 earnings per share (EPS) estimates for Novocure in a report released on Friday, November 1st, Zacks Investment Research reports. Wedbush analyst D. Nierengarten now forecasts that the medical equipment provider will post earnings of $0.06 per share for the quarter, down from their prior forecast of $0.10. Wedbush currently has a “Neutral” rating and a $80.00 target price on the stock. Wedbush also issued estimates for Novocure’s Q2 2020 earnings at $0.11 EPS, Q3 2020 earnings at $0.11 EPS, Q4 2020 earnings at $0.14 EPS and FY2023 earnings at $4.36 EPS.
Several other research firms have also commented on NVCR. Mizuho upped their price target on shares of Novocure from $63.00 to $91.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Zacks Investment Research lowered shares of Novocure from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. SunTrust Banks upgraded shares of Novocure from a “hold” rating to a “buy” rating in a research report on Monday, July 29th. TheStreet upgraded shares of Novocure from a “d” rating to a “c-” rating in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating and issued a $79.00 target price on shares of Novocure in a research report on Monday, November 4th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $79.33.
Novocure stock opened at $85.75 on Monday. The company has a 50-day simple moving average of $76.10 and a 200-day simple moving average of $71.04. The firm has a market capitalization of $8.16 billion, a P/E ratio of -124.28 and a beta of 2.34. The company has a debt-to-equity ratio of 0.84, a quick ratio of 4.76 and a current ratio of 5.06. Novocure has a one year low of $26.02 and a one year high of $98.70.
Novocure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, October 31st. The medical equipment provider reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.07. The business had revenue of $92.06 million during the quarter, compared to analyst estimates of $87.12 million. Novocure had a negative net margin of 8.43% and a negative return on equity of 18.45%. The company’s quarterly revenue was up 42.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.13) earnings per share.
In other news, Director Gabriel Leung sold 5,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $72.28, for a total transaction of $361,400.00. Following the completion of the transaction, the director now owns 74,504 shares in the company, valued at approximately $5,385,149.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Wilhelmus Cm Groenhuysen sold 27,576 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $81.87, for a total transaction of $2,257,647.12. Following the transaction, the chief financial officer now owns 97,179 shares of the company’s stock, valued at approximately $7,956,044.73. The disclosure for this sale can be found here. Insiders sold a total of 549,390 shares of company stock valued at $46,731,164 in the last quarter. 5.60% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of NVCR. Cortina Asset Management LLC boosted its position in shares of Novocure by 13.0% during the 2nd quarter. Cortina Asset Management LLC now owns 141,352 shares of the medical equipment provider’s stock valued at $8,938,000 after purchasing an additional 16,291 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Novocure during the 2nd quarter valued at about $241,000. Taylor Frigon Capital Management LLC boosted its position in shares of Novocure by 9.7% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 46,599 shares of the medical equipment provider’s stock valued at $2,946,000 after purchasing an additional 4,110 shares in the last quarter. Strs Ohio boosted its position in shares of Novocure by 169.7% during the 2nd quarter. Strs Ohio now owns 24,000 shares of the medical equipment provider’s stock valued at $1,517,000 after purchasing an additional 15,100 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Novocure by 2.3% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 21,799 shares of the medical equipment provider’s stock valued at $1,378,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 66.39% of the company’s stock.
About Novocure
Novocure Ltd. is global oncology company, which engages in the development and commercialization of its innovative therapy. It focuses on the commercial adoption of Optune, and its Tumor Treating Fields delivery system, for the treatment of glioblastoma (GBM), and to advance programs testing the efficacy and safety of Optune in multiple solid tumor indications through clinical pipeline.
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