Novocure Ltd (NVCR) Expected to Post Quarterly Sales of $52.92 Million

Equities analysts forecast that Novocure Ltd (NASDAQ:NVCR) will report $52.92 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Novocure’s earnings, with the lowest sales estimate coming in at $51.30 million and the highest estimate coming in at $55.27 million. Novocure reported sales of $30.24 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 75%. The firm is expected to report its next earnings results on Thursday, February 22nd.

On average, analysts expect that Novocure will report full year sales of $52.92 million for the current year, with estimates ranging from $174.70 million to $178.66 million. For the next financial year, analysts expect that the company will post sales of $266.32 million per share, with estimates ranging from $252.37 million to $289.60 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Novocure.

Novocure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.07. Novocure had a negative return on equity of 57.68% and a negative net margin of 47.45%. The business had revenue of $50.10 million for the quarter, compared to the consensus estimate of $43.45 million. During the same quarter in the prior year, the business earned ($0.39) earnings per share. Novocure’s revenue for the quarter was up 130.9% on a year-over-year basis.

Several equities analysts recently commented on the company. Zacks Investment Research upgraded Novocure from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Tuesday, October 31st. ValuEngine upgraded Novocure from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Mizuho restated a “buy” rating and set a $25.00 target price on shares of Novocure in a research report on Friday, December 1st. JPMorgan Chase & Co. restated a “buy” rating on shares of Novocure in a research report on Monday, November 20th. Finally, Wedbush restated an “outperform” rating and set a $25.00 target price (down previously from $29.00) on shares of Novocure in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Novocure has a consensus rating of “Buy” and a consensus price target of $21.13.

Novocure (NASDAQ NVCR) opened at $20.35 on Friday. Novocure has a 12 month low of $6.00 and a 12 month high of $22.30. The company has a quick ratio of 5.30, a current ratio of 5.90 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $1,820.00 and a P/E ratio of -24.52.

In other news, insider Yoram Palti sold 30,000 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $17.13, for a total value of $513,900.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Asaf Danziger sold 15,866 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $22.01, for a total transaction of $349,210.66. Following the completion of the transaction, the chief executive officer now directly owns 774,040 shares in the company, valued at approximately $17,036,620.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 226,281 shares of company stock worth $4,657,207. Company insiders own 16.70% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in NVCR. Goldman Sachs Group Inc. increased its holdings in shares of Novocure by 6,617.7% in the second quarter. Goldman Sachs Group Inc. now owns 4,988,007 shares of the medical equipment provider’s stock worth $86,293,000 after purchasing an additional 4,913,755 shares during the period. FMR LLC increased its holdings in shares of Novocure by 50.4% in the second quarter. FMR LLC now owns 6,888,120 shares of the medical equipment provider’s stock worth $119,165,000 after purchasing an additional 2,309,559 shares during the period. Vanguard Group Inc. increased its holdings in shares of Novocure by 40.5% in the second quarter. Vanguard Group Inc. now owns 4,283,862 shares of the medical equipment provider’s stock worth $74,111,000 after purchasing an additional 1,235,922 shares during the period. PointState Capital LP bought a new position in shares of Novocure in the second quarter worth $5,744,000. Finally, Pier Capital LLC bought a new position in shares of Novocure in the third quarter worth $5,426,000. 41.53% of the stock is currently owned by hedge funds and other institutional investors.

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About Novocure

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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