FY2024 EPS Estimates for NovoCure Reduced by HC Wainwright

NovoCure Limited (NASDAQ:NVCR) – HC Wainwright dropped their FY2024 earnings per share (EPS) estimates for NovoCure in a research report issued to clients and investors on Monday, December 2nd. HC Wainwright analyst E. Bodnar now expects that the medical equipment provider will post earnings per share of ($1.35) for the year, down from their previous forecast of ($1.30). HC Wainwright has a “Buy” rating and a $38.00 price target on the stock. The consensus estimate for NovoCure’s current full-year earnings is ($1.31) per share. HC Wainwright also issued estimates for NovoCure’s Q4 2024 earnings at ($0.40) EPS, FY2025 earnings at ($1.81) EPS, FY2026 earnings at ($2.27) EPS, FY2027 earnings at ($1.82) EPS and FY2028 earnings at ($0.97) EPS.

A number of other research analysts have also recently issued reports on the stock. Wedbush reiterated a “neutral” rating and issued a $29.00 target price (up previously from $24.00) on shares of NovoCure in a research note on Monday. Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and raised their price target for the company from $18.00 to $30.00 in a report on Monday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.33.

NovoCure Stock Down 9.0 %

NASDAQ NVCR opened at $26.60 on Thursday. The stock has a market cap of $2.88 billion, a PE ratio of -19.00 and a beta of 0.75. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. NovoCure has a twelve month low of $11.66 and a twelve month high of $32.60. The firm has a 50-day simple moving average of $17.68 and a 200 day simple moving average of $18.64.

NovoCure (NASDAQ:NVCR) last posted its earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.06. The firm had revenue of $155.10 million for the quarter, compared to the consensus estimate of $143.95 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.46) earnings per share.

Institutional Investors Weigh In On NovoCure

Several institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in NovoCure by 0.6% in the 3rd quarter. FMR LLC now owns 16,232,008 shares of the medical equipment provider’s stock valued at $253,706,000 after acquiring an additional 90,422 shares in the last quarter. Nordwand Advisors LLC lifted its position in NovoCure by 100.0% during the 3rd quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider’s stock worth $47,356,000 after buying an additional 1,514,824 shares in the last quarter. Geode Capital Management LLC lifted its position in 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 buying an additional 29,871 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in NovoCure by 10.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 907,999 shares of the medical equipment provider’s stock worth $14,192,000 after buying an additional 84,606 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in NovoCure by 2.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 824,443 shares of the medical equipment provider’s stock worth $12,886,000 after buying an additional 16,339 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

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.