FY2029 EPS Estimates for NovoCure Lowered by HC Wainwright

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

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

NovoCure Trading Up 0.5%

NVCR opened at $10.14 on Friday. The business has a 50 day simple moving average of $12.95 and a two-hundred day simple moving average of $12.70. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -6.30 and a beta of 0.73. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.55 and a quick ratio of 1.50. NovoCure has a one year low of $9.82 and a one year high of $23.18.

Institutional Trading of NovoCure

Hedge funds and other institutional investors have recently modified their holdings of the business. SJS Investment Consulting Inc. purchased a new position in NovoCure during the 3rd quarter valued at about $41,000. Larson Financial Group LLC increased its stake in shares of NovoCure by 662.1% during the third quarter. Larson Financial Group LLC now owns 4,100 shares of the medical equipment provider’s stock valued at $53,000 after purchasing an additional 3,562 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of NovoCure by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,442 shares of the medical equipment provider’s stock valued at $70,000 after purchasing an additional 1,120 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of NovoCure in the 1st quarter worth approximately $87,000. Finally, Headlands Technologies LLC purchased a new stake in shares of NovoCure in the 2nd quarter worth approximately $88,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

NovoCure Company Profile

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.