FY2029 EPS Estimates for NovoCure Cut by HC Wainwright

NovoCure Limited (NASDAQ:NVCR) – Investment analysts at HC Wainwright lowered their FY2029 earnings per share estimates for shares of NovoCure in a note issued to investors on Thursday, February 27th. HC Wainwright analyst E. Bodnar now forecasts that the medical equipment provider will earn $0.23 per share for the year, down from their previous forecast of $0.27. 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 ($1.30) per share.

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

NovoCure Stock Performance

Shares of NASDAQ:NVCR opened at $19.07 on Monday. The firm’s 50 day simple moving average is $25.57 and its 200-day simple moving average is $21.46. 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 one year low of $11.70 and a one year high of $34.13. The firm has a market cap of $2.06 billion, a PE ratio of -13.62 and a beta of 0.62.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.27). NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The company had revenue of $161.27 million during the quarter, compared to the consensus estimate of $161.30 million.

Institutional Investors Weigh In On NovoCure

A number of institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its stake in NovoCure by 222.6% in the third 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. Intech Investment Management LLC acquired a new stake in shares of NovoCure in the 3rd quarter worth $346,000. Geode Capital Management LLC grew its stake 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 during the last quarter. FMR LLC increased its position in NovoCure by 0.6% during the 3rd quarter. FMR LLC now owns 16,232,008 shares of the medical equipment provider’s stock valued at $253,706,000 after buying an additional 90,422 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in NovoCure by 129.1% in the third quarter. MetLife Investment Management LLC now owns 61,603 shares of the medical equipment provider’s stock valued at $963,000 after buying an additional 34,711 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

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.