Equities research analysts predict that Novocure Ltd (NASDAQ:NVCR) will post $99.12 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Novocure’s earnings, with estimates ranging from $99.00 million to $99.20 million. Novocure reported sales of $69.67 million during the same quarter last year, which indicates a positive year over year growth rate of 42.3%. The company is expected to announce its next earnings report before the market opens on Thursday, February 27th.
According to Zacks, analysts expect that Novocure will report full year sales of $350.39 million for the current year, with estimates ranging from $348.00 million to $351.30 million. For the next fiscal year, analysts forecast that the firm will report sales of $455.79 million, with estimates ranging from $440.80 million to $478.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Novocure.
NVCR has been the subject of several recent analyst reports. Wells Fargo & Co raised their target price on shares of Novocure from $75.00 to $85.00 in a research note on Thursday, December 12th. JPMorgan Chase & Co. restated a “hold” rating on shares of Novocure in a research note on Tuesday, January 14th. Zacks Investment Research upgraded shares of Novocure from a “sell” rating to a “hold” rating in a research note on Tuesday, January 28th. Mizuho reiterated a “buy” rating and issued a $91.00 price objective on shares of Novocure in a research note on Tuesday, January 7th. Finally, BidaskClub cut shares of Novocure from a “buy” rating to a “hold” rating in a research note on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Novocure presently has a consensus rating of “Hold” and an average target price of $80.14.
Shares of NVCR stock traded down $4.68 during mid-day trading on Tuesday, hitting $88.26. The stock had a trading volume of 849,955 shares, compared to its average volume of 558,090. Novocure has a fifty-two week low of $41.51 and a fifty-two week high of $98.84. The firm has a market cap of $9.20 billion, a PE ratio of -304.34 and a beta of 2.38. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.06 and a quick ratio of 4.76. The company’s 50-day simple moving average is $86.77 and its 200-day simple moving average is $83.79.
In related news, CFO Wilhelmus Cm Groenhuysen sold 2,915 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $98.14, for a total value of $286,078.10. Following the completion of the sale, the chief financial officer now owns 88,858 shares in the company, valued at $8,720,524.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman William F. Doyle sold 16,223 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $96.04, for a total transaction of $1,558,056.92. Following the completion of the sale, the chairman now owns 643,242 shares of the company’s stock, valued at approximately $61,776,961.68. The disclosure for this sale can be found here. Insiders sold 282,060 shares of company stock valued at $26,779,386 in the last quarter. Company insiders own 5.60% of the company’s stock.
Large investors have recently bought and sold shares of the business. Advisory Services Network LLC purchased a new position in Novocure during the 4th quarter valued at about $25,000. Samalin Investment Counsel LLC purchased a new stake in shares of Novocure during the fourth quarter worth about $34,000. NWK Group Inc. purchased a new stake in shares of Novocure during the fourth quarter worth about $42,000. Exchange Traded Concepts LLC purchased a new stake in shares of Novocure during the fourth quarter worth about $48,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Novocure during the third quarter worth about $48,000. Hedge funds and other institutional investors own 67.60% of the company’s stock.
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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