What is Wedbush’s Estimate for NovoCure FY2024 Earnings?

NovoCure Limited (NASDAQ:NVCR) – Stock analysts at Wedbush boosted their FY2024 earnings estimates for NovoCure in a research report issued to clients and investors on Wednesday, October 30th. Wedbush analyst D. Nierengarten now forecasts that the medical equipment provider will post earnings of ($1.26) per share for the year, up from their previous estimate of ($1.40). Wedbush has a “Outperform” rating and a $24.00 price objective 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) last issued its earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.06. The business had revenue of $155.10 million during the quarter, compared to analysts’ expectations of $143.95 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.47%. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.46) earnings per share.

Several other research firms have also recently weighed in on NVCR. Evercore ISI decreased their price objective on shares of NovoCure from $21.00 to $18.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of NovoCure in a report on Thursday. Finally, Wells Fargo & Company decreased their price objective on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.17.

NovoCure Stock Up 6.6 %

NVCR opened at $16.18 on Friday. The company has a quick ratio of 6.22, a current ratio of 6.46 and a debt-to-equity ratio of 1.81. The firm has a 50 day moving average price of $16.76 and a 200-day moving average price of $17.88. NovoCure has a twelve month low of $10.87 and a twelve month high of $24.74. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -11.56 and a beta of 0.70.

Institutional Trading of NovoCure

Several large investors have recently added to or reduced their stakes in NVCR. Vanguard Group Inc. grew its position in NovoCure by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 9,759,098 shares of the medical equipment provider’s stock valued at $145,703,000 after buying an additional 122,105 shares during the period. Daiwa Securities Group Inc. grew its position in NovoCure by 1,113.7% during the first quarter. Daiwa Securities Group Inc. now owns 5,122 shares of the medical equipment provider’s stock valued at $80,000 after buying an additional 4,700 shares during the period. Quantbot Technologies LP grew its position in NovoCure by 34.7% during the first quarter. Quantbot Technologies LP now owns 64,776 shares of the medical equipment provider’s stock valued at $1,012,000 after buying an additional 16,681 shares during the period. SG Americas Securities LLC boosted its position in shares of NovoCure by 57.3% in the first quarter. SG Americas Securities LLC now owns 359,518 shares of the medical equipment provider’s stock worth $5,619,000 after purchasing an additional 130,927 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of NovoCure in the first quarter worth approximately $134,000. 84.61% of the stock is currently owned by institutional investors.

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.