-$0.14 Earnings Per Share Expected for Novocure Ltd (NVCR) This Quarter

Equities research analysts expect Novocure Ltd (NASDAQ:NVCR) to post ($0.14) earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Novocure’s earnings, with the highest EPS estimate coming in at ($0.10) and the lowest estimate coming in at ($0.16). Novocure reported earnings of ($0.26) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 46.2%. The firm is scheduled to report its next quarterly earnings report before the market opens on Thursday, February 22nd.

According to Zacks, analysts expect that Novocure will report full year earnings of ($0.64) per share for the current financial year, with EPS estimates ranging from ($0.73) to ($0.44). For the next financial year, analysts anticipate that the firm will report earnings of ($0.36) per share, with EPS estimates ranging from ($0.67) to ($0.17). Zacks’ EPS averages are an average based on a survey of research analysts that cover Novocure.

Several research analysts recently weighed in on the company. ValuEngine upgraded Novocure from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. BidaskClub cut Novocure from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. Zacks Investment Research cut Novocure from a “buy” rating to a “hold” rating in a research report on Saturday, January 13th. Mizuho reiterated a “buy” rating and set a $25.00 price target on shares of Novocure in a research report on Friday, December 1st. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Novocure in a research report on Monday, November 20th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $21.13.

Shares of Novocure (NASDAQ:NVCR) traded up $0.30 during mid-day trading on Tuesday, reaching $20.95. The company had a trading volume of 1,013,992 shares, compared to its average volume of 979,525. The company has a debt-to-equity ratio of 0.83, a quick ratio of 5.30 and a current ratio of 5.90. The stock has a market capitalization of $1,872.18, a PE ratio of -24.94 and a beta of 3.74. Novocure has a 52 week low of $6.70 and a 52 week high of $24.15.

In other news, General Counsel Todd Christopher Longsworth sold 11,630 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $24.00, for a total value of $279,120.00. Following the completion of the sale, the general counsel now directly owns 16,628 shares in the company, valued at $399,072. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Asaf Danziger sold 336,420 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $22.33, for a total value of $7,512,258.60. Following the completion of the sale, the chief executive officer now owns 435,863 shares of the company’s stock, valued at $9,732,820.79. The disclosure for this sale can be found here. Insiders sold 513,092 shares of company stock valued at $11,250,984 over the last 90 days. Company insiders own 16.70% of the company’s stock.

Several institutional investors have recently bought and sold shares of NVCR. Schwab Charles Investment Management Inc. increased its position in shares of Novocure by 23.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 97,000 shares of the medical equipment provider’s stock valued at $1,679,000 after buying an additional 18,400 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Novocure by 15.4% in the second quarter. Bank of New York Mellon Corp now owns 200,307 shares of the medical equipment provider’s stock valued at $3,465,000 after buying an additional 26,784 shares in the last quarter. Legal & General Group Plc increased its position in shares of Novocure by 8.5% in the second quarter. Legal & General Group Plc now owns 13,866 shares of the medical equipment provider’s stock valued at $238,000 after buying an additional 1,092 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Novocure by 26.7% in the second quarter. Wells Fargo & Company MN now owns 45,619 shares of the medical equipment provider’s stock valued at $789,000 after buying an additional 9,600 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Novocure by 28.8% in the second quarter. Alliancebernstein L.P. now owns 75,600 shares of the medical equipment provider’s stock valued at $1,308,000 after buying an additional 16,900 shares in the last quarter. Institutional investors and hedge funds own 41.82% of the company’s stock.

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Novocure 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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