HC Wainwright Has Negative View of NovoCure FY2029 Earnings

NovoCure Limited (NASDAQ:NVCR) – HC Wainwright decreased their FY2029 earnings per share (EPS) estimates for shares of NovoCure in a report released on Thursday, February 5th. HC Wainwright analyst E. Bodnar now anticipates that the medical equipment provider will post earnings of $1.06 per share for the year, down from their prior forecast of $1.07. HC Wainwright has a “Buy” rating and a $39.00 price target on the stock. The consensus estimate for NovoCure’s current full-year earnings is ($1.30) per share.

NVCR has been the subject of a number of other research reports. Evercore ISI set a $20.00 price objective on shares of NovoCure in a report on Monday, January 5th. Wedbush restated a “neutral” rating and issued a $18.00 price objective on shares of NovoCure in a report on Thursday, January 15th. JPMorgan Chase & Co. reduced their price target on shares of NovoCure from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Monday, October 27th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of NovoCure in a research note on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, NovoCure presently has a consensus rating of “Hold” and a consensus target price of $25.50.

NovoCure Stock Down 12.7%

Shares of NVCR opened at $10.09 on Friday. The firm has a fifty day moving average price of $13.00 and a 200-day moving average price of $12.74. The company has a current ratio of 1.55, a quick ratio of 1.50 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $1.13 billion, a P/E ratio of -6.27 and a beta of 0.73. NovoCure has a 12-month low of $9.82 and a 12-month high of $24.19.

Institutional Investors Weigh In On NovoCure

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in NovoCure by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 10,958,209 shares of the medical equipment provider’s stock worth $141,690,000 after purchasing an additional 502,368 shares in the last quarter. Soleus Capital Management L.P. boosted its position in NovoCure by 25.0% in the second quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider’s stock valued at $122,897,000 after buying an additional 1,382,888 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in NovoCure by 38.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,270,076 shares of the medical equipment provider’s stock worth $40,407,000 after buying an additional 634,925 shares during the period. Quantinno Capital Management LP raised its position in NovoCure by 38.5% during the 2nd quarter. Quantinno Capital Management LP now owns 1,368,663 shares of the medical equipment provider’s stock worth $24,362,000 after buying an additional 380,411 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in NovoCure by 106.5% during the 3rd quarter. Millennium Management LLC now owns 1,335,490 shares of the medical equipment provider’s stock valued at $17,255,000 after acquiring an additional 688,710 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

About NovoCure

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.