HC Wainwright Increases Earnings Estimates for NovoCure

NovoCure Limited (NASDAQ:NVCR - Free Report) - Research analysts at HC Wainwright boosted their FY2024 EPS estimates for shares of NovoCure in a research note issued on Tuesday, January 14th. HC Wainwright analyst E. Bodnar now anticipates that the medical equipment provider will post earnings per share of ($1.27) for the year, up from their prior estimate of ($1.35). HC Wainwright currently has a "Buy" rating and a $38.00 target price on the stock. The consensus estimate for NovoCure's current full-year earnings is ($1.32) per share. HC Wainwright also issued estimates for NovoCure's Q4 2024 earnings at ($0.32) EPS, Q1 2025 earnings at ($0.45) EPS, Q2 2025 earnings at ($0.48) EPS, Q3 2025 earnings at ($0.52) EPS, Q4 2025 earnings at ($0.57) EPS, FY2025 earnings at ($2.01) EPS, FY2026 earnings at ($2.48) EPS, FY2027 earnings at ($2.12) EPS and FY2028 earnings at ($1.21) EPS.

A number of other equities research analysts have also recently issued reports on the company. Wedbush reiterated a "neutral" rating and issued a $29.00 target price on shares of NovoCure in a research note on Monday. Piper Sandler lifted their price objective on shares of NovoCure from $28.00 to $42.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. Finally, Evercore ISI raised shares of NovoCure from an "in-line" rating to an "outperform" rating and boosted their target price for the company from $18.00 to $30.00 in a research note on Monday, December 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $32.67.

NovoCure Stock Performance

NASDAQ:NVCR traded up $0.15 during midday trading on Friday, reaching $26.17. 1,184,396 shares of the company traded hands, compared to its average volume of 1,110,963. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of -18.69 and a beta of 0.64. The company has a fifty day moving average price of $26.02 and a 200 day moving average price of $20.49. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. NovoCure has a twelve month low of $11.70 and a twelve month high of $34.13.

NovoCure (NASDAQ:NVCR - Get Free Report) last issued its earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, beating analysts' consensus estimates of ($0.34) by $0.06. The company had revenue of $155.10 million during the quarter, compared to the consensus estimate of $143.95 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. NovoCure's quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.46) earnings per share.

Institutional Investors Weigh In On NovoCure

Several institutional investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of NovoCure during the 2nd quarter worth about $34,000. Brooklyn Investment Group acquired a new position in shares of NovoCure during the third quarter valued at approximately $45,000. Venturi Wealth Management LLC raised its holdings in NovoCure by 58.5% during the third quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider's stock worth $57,000 after purchasing an additional 1,354 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in NovoCure by 21.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider's stock worth $61,000 after purchasing an additional 701 shares during the period. Finally, Versant Capital Management Inc lifted its position in NovoCure by 35.8% in the fourth quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider's stock worth $100,000 after purchasing an additional 880 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

NovoCure Company Profile

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company's TTFields devices include Optune Gio and Optune Lua.