What is Wedbush’s Estimate for NovoCure FY2024 Earnings?

NovoCure Limited (NASDAQ:NVCR) – Wedbush upped their FY2024 EPS estimates for NovoCure in a report issued on Monday, January 13th. Wedbush analyst D. Nierengarten now expects that the medical equipment provider will post earnings of ($1.22) per share for the year, up from their previous forecast of ($1.26). Wedbush currently has a “Neutral” rating and a $29.00 price target on the stock. The consensus estimate for NovoCure’s current full-year earnings is ($1.32) per share. Wedbush also issued estimates for NovoCure’s Q4 2024 earnings at ($0.27) EPS, Q1 2025 earnings at ($0.32) EPS, Q2 2025 earnings at ($0.35) EPS, Q3 2025 earnings at ($0.38) EPS, Q4 2025 earnings at ($0.39) EPS, FY2025 earnings at ($1.45) EPS, FY2026 earnings at ($1.38) EPS and FY2027 earnings at ($1.08) EPS.

NVCR has been the topic of a number of other reports. HC Wainwright reiterated a “buy” rating and issued a $38.00 price objective on shares of NovoCure in a research report on Tuesday. Piper Sandler boosted their price objective on shares of NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Finally, 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, December 2nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.67.

NovoCure Stock Down 1.3 %

Shares of NASDAQ:NVCR opened at $26.02 on Thursday. The stock’s 50-day moving average is $25.68 and its 200 day moving average is $20.39. The company has a market cap of $2.82 billion, a PE ratio of -18.59 and a beta of 0.64. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. NovoCure has a 1 year low of $11.70 and a 1 year high of $34.13.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. The firm had revenue of $155.10 million for the quarter, compared to analysts’ expectations of $143.95 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.46) earnings per share.

Institutional Investors Weigh In On NovoCure

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVCR. Point72 Asia Singapore Pte. Ltd. purchased a new position in NovoCure during the second quarter valued at $34,000. Brooklyn Investment Group bought a new position in shares of NovoCure in the 3rd quarter worth about $45,000. Versant Capital Management Inc lifted its position in NovoCure by 35.8% during the 4th quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock valued at $100,000 after acquiring an additional 880 shares during the period. Venturi Wealth Management LLC boosted its stake in NovoCure by 58.5% during the third quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock worth $57,000 after acquiring an additional 1,354 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in NovoCure by 21.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider’s stock worth $61,000 after purchasing an additional 701 shares during the period. 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.