Novocure Ltd (NVCR) Expected to Post Quarterly Sales of $66.17 Million

Analysts expect Novocure Ltd (NASDAQ:NVCR) to announce $66.17 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Novocure’s earnings, with the highest sales estimate coming in at $67.87 million and the lowest estimate coming in at $64.00 million. Novocure reported sales of $50.11 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 32%. The firm is expected to report its next quarterly earnings report on Thursday, October 25th.

According to Zacks, analysts expect that Novocure will report full-year sales of $251.76 million for the current financial year, with estimates ranging from $245.74 million to $257.14 million. For the next financial year, analysts expect that the firm will report sales of $388.31 million per share, with estimates ranging from $322.70 million to $475.30 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Novocure.

Novocure (NASDAQ:NVCR) last announced its earnings results on Thursday, July 26th. The medical equipment provider reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). The firm had revenue of $61.50 million during the quarter, compared to analysts’ expectations of $59.53 million. Novocure had a negative net margin of 26.99% and a negative return on equity of 52.34%. Novocure’s revenue for the quarter was up 60.2% compared to the same quarter last year.

A number of brokerages have issued reports on NVCR. Deutsche Bank set a $44.00 target price on Novocure and gave the company a “hold” rating in a research report on Thursday. Wells Fargo & Co upped their price objective on Novocure from $53.00 to $58.00 and gave the stock a “positive” rating in a research report on Wednesday. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Novocure in a research report on Sunday, September 16th. Wedbush reaffirmed an “outperform” rating and set a $40.00 price objective (down previously from $50.00) on shares of Novocure in a research report on Friday, September 7th. Finally, Mizuho reaffirmed a “buy” rating and set a $58.00 price objective on shares of Novocure in a research report on Thursday, September 6th. Two 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 company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $45.29.

In other Novocure news, CTO Yoram Palti sold 12,216 shares of the company’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $40.00, for a total value of $488,640.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael J. Ambrogi sold 57,390 shares of the company’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $31.48, for a total transaction of $1,806,637.20. Following the completion of the transaction, the chief operating officer now owns 174,383 shares of the company’s stock, valued at approximately $5,489,576.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 326,272 shares of company stock valued at $11,608,611. Insiders own 15.30% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. acquired a new position in Novocure in the second quarter valued at $135,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Novocure during the first quarter worth about $109,000. CWM LLC acquired a new stake in shares of Novocure during the second quarter worth about $163,000. NumerixS Investment Technologies Inc boosted its stake in shares of Novocure by 270.6% during the second quarter. NumerixS Investment Technologies Inc now owns 6,300 shares of the medical equipment provider’s stock worth $196,000 after buying an additional 4,600 shares during the period. Finally, WINTON GROUP Ltd acquired a new stake in shares of Novocure during the second quarter worth about $202,000. Institutional investors own 56.09% of the company’s stock.

NASDAQ NVCR traded down $0.55 on Thursday, reaching $48.65. The stock had a trading volume of 976,679 shares, compared to its average volume of 984,708. The company has a debt-to-equity ratio of 1.33, a current ratio of 6.41 and a quick ratio of 5.97. Novocure has a 12-month low of $16.10 and a 12-month high of $52.35.

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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