HC Wainwright Has Weak Outlook for NovoCure FY2024 Earnings

NovoCure Limited (NASDAQ:NVCR) – Stock analysts at HC Wainwright lowered their FY2024 EPS estimates for shares of NovoCure in a report issued on Monday, December 2nd. HC Wainwright analyst E. Bodnar now expects that the medical equipment provider will post earnings of ($1.35) per share for the year, down from their prior estimate of ($1.30). 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 ($1.31) per share. HC Wainwright also issued estimates for NovoCure’s Q4 2024 earnings at ($0.40) EPS, FY2025 earnings at ($1.81) EPS, FY2026 earnings at ($2.27) EPS, FY2027 earnings at ($1.82) EPS and FY2028 earnings at ($0.97) EPS.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $143.95 million. During the same period in the previous year, the business posted ($0.46) EPS. The business’s quarterly revenue was up 21.8% on a year-over-year basis.

Several other research analysts have also commented on the stock. Wedbush restated a “neutral” rating and issued a $29.00 price objective (up from $24.00) on shares of NovoCure in a report on Monday. Evercore ISI upgraded shares of NovoCure from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $18.00 to $30.00 in a report on Monday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, NovoCure presently has an average rating of “Moderate Buy” and a consensus target price of $30.33.

NovoCure Stock Down 4.2 %

Shares of NASDAQ NVCR opened at $29.23 on Thursday. 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 12 month low of $11.66 and a 12 month high of $32.60. The firm has a fifty day simple moving average of $17.46 and a two-hundred day simple moving average of $18.58.

Institutional Trading of NovoCure

Institutional investors have recently bought and sold shares of the company. Ridgewood Investments LLC purchased a new stake in NovoCure during the 2nd quarter valued at about $28,000. Signaturefd LLC lifted its stake in NovoCure by 61.7% during the 2nd quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 627 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in NovoCure during the 2nd quarter valued at about $34,000. Fifth Third Bancorp bought a new position in NovoCure during the 2nd quarter valued at about $43,000. Finally, Nisa Investment Advisors LLC bought a new position in NovoCure during the 2nd quarter valued at about $48,000. 84.61% of the stock is owned by hedge funds and other 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.