HC Wainwright Estimates NovoCure FY2029 Earnings

NovoCure Limited (NASDAQ:NVCR) – Equities researchers at HC Wainwright issued their FY2029 earnings per share (EPS) estimates for NovoCure in a research note 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 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.

Several other research analysts also recently issued reports on the company. Wedbush reaffirmed a “neutral” rating and set a $29.00 price objective on shares of NovoCure in a report on Monday. Piper Sandler upped 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, 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 report on Monday, December 2nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.67.

NovoCure Price Performance

Shares of NVCR stock opened at $26.35 on Thursday. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of -18.82 and a beta of 0.64. The firm’s 50 day moving average is $25.52 and its 200-day moving average is $20.35. NovoCure has a 1 year low of $11.70 and a 1 year high of $34.13.

NovoCure (NASDAQ:NVCR) last issued its quarterly 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 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 firm’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.46) EPS.

Hedge Funds Weigh In On NovoCure

Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its position in shares of 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 during the period. Nordwand Advisors LLC increased its stake 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 valued at $47,356,000 after purchasing an additional 1,514,824 shares in the last quarter. Geode Capital Management LLC raised its holdings in NovoCure by 1.3% in the third quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider’s stock worth $37,601,000 after purchasing an additional 29,871 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of NovoCure by 10.3% during the third 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 purchasing an additional 84,606 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of NovoCure by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 824,443 shares of the medical equipment provider’s stock valued at $12,886,000 after buying an additional 16,339 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.