Zacks: Brokerages Anticipate NovoCure Limited (NVCR) to Announce -$0.21 EPS
Equities research analysts expect NovoCure Limited (NASDAQ:NVCR) to report earnings of ($0.21) per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for NovoCure Limited’s earnings, with estimates ranging from ($0.23) to ($0.20). NovoCure Limited reported earnings per share of ($0.39) during the same quarter last year, which would suggest a positive year-over-year growth rate of 46.2%. The company is scheduled to report its next earnings results before the market opens on Thursday, October 26th.
According to Zacks, analysts expect that NovoCure Limited will report full year earnings of ($0.81) per share for the current year, with EPS estimates ranging from ($0.88) to ($0.67). For the next year, analysts anticipate that the business will post earnings of ($0.42) per share, with EPS estimates ranging from ($0.46) to ($0.36). Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover NovoCure Limited.
NovoCure Limited (NASDAQ:NVCR) last announced its earnings results on Thursday, July 27th. The medical equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.01). NovoCure Limited had a negative net margin of 75.91% and a negative return on equity of 69.48%. The company had revenue of $38.38 million during the quarter, compared to analyst estimates of $42.20 million.
NVCR has been the topic of a number of recent analyst reports. Zacks Investment Research lowered NovoCure Limited from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub upgraded NovoCure Limited from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 31st. Mizuho initiated coverage on NovoCure Limited in a report on Wednesday, September 6th. They issued a “buy” rating and a $25.00 target price for the company. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $19.00 target price (up previously from $18.00) on shares of NovoCure Limited in a report on Monday, July 17th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. NovoCure Limited has an average rating of “Buy” and a consensus price target of $20.00.
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In related news, CEO Asaf Danziger sold 155,088 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $18.14, for a total value of $2,813,296.32. Following the completion of the transaction, the chief executive officer now directly owns 899,462 shares of the company’s stock, valued at approximately $16,316,240.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 670,640 shares of company stock worth $12,444,714. Insiders own 16.70% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of NVCR. Teachers Advisors LLC grew its holdings in NovoCure Limited by 21.2% in the fourth quarter. Teachers Advisors LLC now owns 95,674 shares of the medical equipment provider’s stock valued at $751,000 after purchasing an additional 16,741 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of NovoCure Limited by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 173,523 shares of the medical equipment provider’s stock worth $1,406,000 after buying an additional 2,480 shares during the last quarter. American International Group Inc. raised its stake in shares of NovoCure Limited by 7.1% during the 1st quarter. American International Group Inc. now owns 31,191 shares of the medical equipment provider’s stock worth $253,000 after buying an additional 2,065 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of NovoCure Limited by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 3,047,940 shares of the medical equipment provider’s stock worth $24,688,000 after buying an additional 325,512 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of NovoCure Limited by 14.6% during the 1st quarter. Geode Capital Management LLC now owns 128,632 shares of the medical equipment provider’s stock worth $1,041,000 after buying an additional 16,411 shares during the last quarter. Institutional investors own 36.84% of the company’s stock.
NovoCure Limited (NASDAQ NVCR) traded up 2.61% during mid-day trading on Tuesday, hitting $19.65. 831,493 shares of the stock were exchanged. NovoCure Limited has a one year low of $5.95 and a one year high of $22.30. The company’s market cap is $1.75 billion. The company has a 50-day moving average price of $20.25 and a 200-day moving average price of $15.69.
NovoCure Limited Company Profile
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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