Brokers Set Expectations for NovoCure FY2029 Earnings

NovoCure Limited (NASDAQ:NVCR) – Equities researchers at HC Wainwright issued their FY2029 earnings per share (EPS) estimates for shares of NovoCure in a report released on Tuesday, January 14th. HC Wainwright analyst E. Bodnar expects that the medical equipment provider will earn $0.27 per share for the year. HC Wainwright has a “Buy” rating and a $38.00 price target 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 (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.06. The company had revenue of $155.10 million during 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 revenue was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.46) earnings per share.

A number of other research analysts also recently issued reports on the company. Piper Sandler increased their price objective on NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $18.00 to $30.00 in a research note on Monday, December 2nd. Finally, Wedbush reissued a “neutral” rating and issued a $29.00 price objective on shares of NovoCure in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.67.

NovoCure Stock Performance

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NVCR. Rhumbline Advisers grew its stake in shares of NovoCure by 33.1% in the second quarter. Rhumbline Advisers now owns 150,119 shares of the medical equipment provider’s stock valued at $2,572,000 after buying an additional 37,364 shares in the last quarter. Choreo LLC bought a new position in shares of NovoCure in the 2nd quarter valued at about $192,000. State of New Jersey Common Pension Fund D acquired a new position in shares of NovoCure during the 2nd quarter worth about $1,447,000. Renaissance Technologies LLC raised its holdings in shares of NovoCure by 171.9% in the 2nd quarter. Renaissance Technologies LLC now owns 760,175 shares of the medical equipment provider’s stock valued at $13,022,000 after purchasing an additional 480,600 shares during the period. Finally, Seven Eight Capital LP acquired a new stake in NovoCure in the 2nd quarter valued at about $1,061,000. 84.61% of the stock is owned by institutional investors and hedge funds.

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.