HC Wainwright Predicts NovoCure FY2029 Earnings

NovoCure Limited (NASDAQ:NVCR - Free Report) - Analysts at HC Wainwright issued their FY2029 EPS estimates for NovoCure in a note issued to investors on Tuesday, January 14th. HC Wainwright analyst E. Bodnar anticipates that the medical equipment provider will post earnings of $0.27 per share for the year. 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.

NovoCure (NASDAQ:NVCR - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.06. The business had revenue of $155.10 million for 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%. The company's quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.46) EPS.

Several other analysts have also recently commented on NVCR. Evercore ISI upgraded shares of NovoCure from an "in-line" rating to an "outperform" rating and lifted their price objective for the company from $18.00 to $30.00 in a research note on Monday, December 2nd. Wedbush reiterated a "neutral" rating and set a $29.00 price target on shares of NovoCure in a research report on Monday. Finally, Piper Sandler upped their price objective on NovoCure from $28.00 to $42.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $32.67.

NovoCure Stock Performance

Shares of NovoCure stock traded down $0.33 on Thursday, reaching $26.02. 845,227 shares of the stock were exchanged, compared to its average volume of 1,077,711. NovoCure has a twelve month low of $11.70 and a twelve month high of $34.13. The business has a 50 day moving average price of $25.52 and a two-hundred day moving average price of $20.35. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of -18.59 and a beta of 0.64.

Institutional Investors Weigh In On NovoCure

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc grew its holdings in NovoCure by 35.8% in the 4th quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider's stock valued at $100,000 after buying an additional 880 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of NovoCure by 222.6% in the 3rd quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider's stock valued at $2,904,000 after purchasing an additional 124,793 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of NovoCure by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 55,756 shares of the medical equipment provider's stock worth $871,000 after purchasing an additional 2,465 shares during the period. Geode Capital Management LLC increased its position in shares of NovoCure by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider's stock worth $37,601,000 after purchasing an additional 29,871 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new stake in NovoCure in the 3rd quarter valued at about $735,000. Institutional investors and hedge funds own 84.61% of the company's stock.

About NovoCure

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.