NovoCure Limited (NASDAQ:NVCR - Free Report) - Wedbush raised their FY2024 earnings per share (EPS) estimates for shares of NovoCure in a research note issued to investors on Wednesday, October 30th. Wedbush analyst D. Nierengarten now forecasts that the medical equipment provider will post earnings per share of ($1.26) for the year, up from their previous estimate of ($1.40). Wedbush currently has a "Outperform" rating and a $24.00 target price on the stock. The consensus estimate for NovoCure's current full-year earnings is ($1.35) per share. Wedbush also issued estimates for NovoCure's Q4 2024 earnings at ($0.31) EPS, Q1 2025 earnings at ($0.30) EPS, Q2 2025 earnings at ($0.31) EPS, Q3 2025 earnings at ($0.32) EPS, FY2025 earnings at ($1.24) EPS, FY2026 earnings at ($1.29) EPS, FY2027 earnings at ($1.24) EPS and FY2028 earnings at ($1.03) EPS.
NovoCure (NASDAQ:NVCR - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.06. NovoCure had a negative return on equity of 41.47% and a negative net margin of 25.93%. The company had revenue of $155.10 million for the quarter, compared to analyst estimates of $143.95 million. During the same quarter last year, the firm earned ($0.46) EPS. NovoCure's revenue for the quarter was up 21.8% compared to the same quarter last year.
Several other analysts have also commented on NVCR. Wells Fargo & Company decreased their price target on NovoCure from $42.00 to $40.00 and set an "overweight" rating on the stock in a research note on Friday, July 26th. Evercore ISI decreased their price target on NovoCure from $21.00 to $18.00 and set an "in-line" rating on the stock in a research note on Tuesday, October 1st. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price target on shares of NovoCure in a research note on Thursday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $26.17.
Check Out Our Latest Stock Report on NovoCure
NovoCure Stock Performance
Shares of NASDAQ:NVCR traded up $1.00 during trading on Friday, hitting $16.18. 861,999 shares of the stock were exchanged, compared to its average volume of 1,311,185. NovoCure has a 1-year low of $10.87 and a 1-year high of $24.74. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -10.94 and a beta of 0.70. The company's fifty day simple moving average is $16.79 and its 200-day simple moving average is $17.85. The company has a debt-to-equity ratio of 1.81, a quick ratio of 6.22 and a current ratio of 6.46.
Institutional Investors Weigh In On NovoCure
Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of NovoCure by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 9,759,098 shares of the medical equipment provider's stock worth $145,703,000 after acquiring an additional 122,105 shares during the last quarter. SG Americas Securities LLC increased its holdings in NovoCure by 57.3% in the first quarter. SG Americas Securities LLC now owns 359,518 shares of the medical equipment provider's stock valued at $5,619,000 after purchasing an additional 130,927 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in NovoCure by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,378,940 shares of the medical equipment provider's stock valued at $37,184,000 after purchasing an additional 125,715 shares during the last quarter. Tidal Investments LLC bought a new stake in NovoCure in the first quarter valued at about $695,000. Finally, Federated Hermes Inc. increased its holdings in NovoCure by 5.8% in the second quarter. Federated Hermes Inc. now owns 742,927 shares of the medical equipment provider's stock valued at $12,726,000 after purchasing an additional 40,870 shares during the last quarter. Institutional investors own 84.61% of the company's stock.
About NovoCure
(
Get Free Report)
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.
See Also
Before you consider NovoCure, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NovoCure wasn't on the list.
While NovoCure currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
