HC Wainwright Forecasts NovoCure FY2029 Earnings

NovoCure Limited (NASDAQ:NVCR) – Equities research analysts at HC Wainwright issued their FY2029 earnings estimates for shares of NovoCure in a research report issued 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) last issued its quarterly earnings data 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. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The firm 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) earnings per share. The company’s revenue for the quarter was up 21.8% on a year-over-year basis.

NVCR has been the topic of several other research reports. Piper Sandler lifted their target price on shares of NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Evercore ISI raised NovoCure from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $18.00 to $30.00 in a research report on Monday, December 2nd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $29.00 target price on shares of NovoCure in a report on Monday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, NovoCure presently has an average rating of “Moderate Buy” and an average target price of $32.67.

NovoCure Stock Down 1.3 %

Shares of NovoCure stock opened at $26.02 on Thursday. NovoCure has a 12-month low of $11.70 and a 12-month high of $34.13. The stock has a market capitalization of $2.82 billion, a P/E ratio of -18.59 and a beta of 0.64. 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 stock has a 50 day moving average price of $25.68 and a two-hundred day moving average price of $20.39.

Institutional Trading of NovoCure

A number of institutional investors and hedge funds have recently modified their holdings of the company. Nordwand Advisors LLC lifted its position in NovoCure by 100.0% in the third quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider’s stock worth $47,356,000 after purchasing an additional 1,514,824 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of NovoCure by 171.9% during the 2nd quarter. Renaissance Technologies LLC now owns 760,175 shares of the medical equipment provider’s stock worth $13,022,000 after acquiring an additional 480,600 shares during the period. AQR Capital Management LLC boosted its position in shares of NovoCure by 234.2% during the 2nd quarter. AQR Capital Management LLC now owns 431,445 shares of the medical equipment provider’s stock valued at $7,391,000 after acquiring an additional 302,351 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of NovoCure by 222.6% during the 3rd quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider’s stock valued at $2,904,000 after acquiring an additional 124,793 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new stake in NovoCure in the third quarter valued at about $1,812,000. 84.61% of the stock is currently 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.