FY2029 EPS Estimates for NovoCure Lowered by HC Wainwright

NovoCure Limited (NASDAQ:NVCR) – Research analysts at HC Wainwright decreased their FY2029 earnings per share estimates for NovoCure in a research report issued on Thursday, February 27th. HC Wainwright analyst E. Bodnar now expects that the medical equipment provider will post earnings of $0.23 per share for the year, down from their previous estimate of $0.27. 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 ($1.30) per share.

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

Several other equities analysts also recently commented on the company. StockNews.com downgraded NovoCure from a “hold” rating to a “sell” rating in a research report on Monday. Piper Sandler upped their price target 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 upgraded shares of NovoCure from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $18.00 to $30.00 in a research note on Monday, December 2nd. Finally, Wedbush restated a “neutral” rating and issued a $29.00 target price on shares of NovoCure in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.67.

NovoCure Trading Down 3.5 %

NVCR opened at $18.41 on Monday. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -13.15 and a beta of 0.62. The stock’s 50 day moving average price is $25.33 and its 200-day moving average price is $21.46. NovoCure has a one year low of $11.70 and a one year 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.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Soleus Capital Management L.P. purchased a new position in NovoCure during the fourth quarter valued at approximately $81,643,000. Nordwand Advisors LLC increased its holdings in NovoCure by 100.0% during 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 buying an additional 1,514,824 shares during the period. Capital International Investors increased its holdings in shares of NovoCure by 12.0% in the 4th quarter. Capital International Investors now owns 8,873,902 shares of the medical equipment provider’s stock valued at $264,442,000 after acquiring an additional 951,141 shares during the period. Granite Investment Partners LLC purchased a new position in shares of NovoCure in the 4th quarter valued at $20,464,000. Finally, Emerald Advisers LLC purchased a new position in shares of NovoCure in the 4th quarter valued at $16,317,000. Hedge funds and other 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.