FY2024 EPS Estimates for NovoCure Lifted by HC Wainwright

NovoCure Limited (NASDAQ:NVCR) – Equities researchers at HC Wainwright increased their FY2024 earnings per share (EPS) estimates for NovoCure in a research report issued on Tuesday, January 14th. HC Wainwright analyst E. Bodnar now expects that the medical equipment provider will post earnings per share of ($1.27) for the year, up from their prior forecast of ($1.35). HC Wainwright has a “Buy” rating and a $38.00 price objective 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.

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

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

NovoCure Stock Up 0.6 %

Shares of NVCR stock opened at $26.17 on Friday. NovoCure has a 52-week low of $11.70 and a 52-week high of $34.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of -18.69 and a beta of 0.64. The firm’s 50-day moving average is $26.02 and its 200-day moving average is $20.49.

Institutional Trading of NovoCure

Several hedge funds have recently added to or reduced their stakes in NVCR. Point72 Asia Singapore Pte. Ltd. bought a new position in NovoCure during the 2nd quarter worth $34,000. Brooklyn Investment Group acquired a new position in shares of NovoCure in the third quarter valued at about $45,000. Venturi Wealth Management LLC increased its position 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 acquiring an additional 1,354 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in NovoCure by 21.8% in the 3rd 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 in the last quarter. Finally, Versant Capital Management Inc boosted 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 purchasing an additional 880 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

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.