FY2029 EPS Estimates for NovoCure Reduced by HC Wainwright

NovoCure Limited (NASDAQ:NVCR) – Equities researchers at HC Wainwright decreased their FY2029 earnings per share estimates for shares of NovoCure in a research note issued to investors on Thursday, June 18th. HC Wainwright analyst E. Bodnar now forecasts that the medical equipment provider will post earnings per share of $1.95 for the year, down from their prior estimate of $2.07. HC Wainwright currently has a “Buy” rating and a $46.00 price objective on the stock. The consensus estimate for NovoCure’s current full-year earnings is ($1.55) per share. HC Wainwright also issued estimates for NovoCure’s FY2030 earnings at $4.15 EPS.

Several other research analysts also recently commented on the company. Wells Fargo & Company boosted their target price on NovoCure from $13.50 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Weiss Ratings upgraded shares of NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. Wedbush reaffirmed a “neutral” rating and set a $18.00 price target on shares of NovoCure in a report on Thursday, April 16th. Finally, Evercore reiterated an “outperform” rating on shares of NovoCure in a research report on Friday, May 1st. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $26.86.

NovoCure Stock Performance

NASDAQ:NVCR opened at $14.28 on Friday. The stock’s 50-day simple moving average is $15.53 and its 200 day simple moving average is $13.54. The firm has a market capitalization of $1.65 billion, a PE ratio of -9.33 and a beta of 0.93. The company has a quick ratio of 2.70, a current ratio of 2.90 and a debt-to-equity ratio of 0.71. NovoCure has a twelve month low of $9.82 and a twelve month high of $18.92.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.11). NovoCure had a negative net margin of 25.66% and a negative return on equity of 50.82%. The business had revenue of $174.06 million during the quarter, compared to the consensus estimate of $167.77 million. During the same quarter in the previous year, the business posted ($0.31) EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP boosted its stake in shares of NovoCure by 163.6% in the 3rd quarter. Quantbot Technologies LP now owns 195,515 shares of the medical equipment provider’s stock valued at $2,526,000 after purchasing an additional 121,354 shares during the last quarter. Algert Global LLC raised its stake in NovoCure by 372.2% during the third quarter. Algert Global LLC now owns 682,858 shares of the medical equipment provider’s stock worth $8,823,000 after buying an additional 538,235 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in NovoCure by 104.2% in the third quarter. JPMorgan Chase & Co. now owns 282,184 shares of the medical equipment provider’s stock valued at $3,646,000 after buying an additional 144,024 shares during the period. Tudor Investment Corp ET AL lifted its holdings in NovoCure by 140.6% in the third quarter. Tudor Investment Corp ET AL now owns 606,070 shares of the medical equipment provider’s stock valued at $7,830,000 after buying an additional 354,216 shares during the period. Finally, American Century Companies Inc. boosted its position in NovoCure by 18.3% during the third quarter. American Century Companies Inc. now owns 1,218,807 shares of the medical equipment provider’s stock valued at $15,747,000 after acquiring an additional 188,933 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Buying and Selling at NovoCure

In other NovoCure news, Director Timothy J. Scannell sold 2,945 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total value of $46,442.65. Following the completion of the transaction, the director directly owned 14,288 shares in the company, valued at approximately $225,321.76. This trade represents a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Allyson J. Ocean sold 2,945 shares of NovoCure stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total value of $46,442.65. Following the sale, the director directly owned 11,324 shares in the company, valued at $178,579.48. The trade was a 20.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 51,943 shares of company stock worth $893,171 over the last three months. 5.52% of the stock is owned by corporate insiders.

More NovoCure News

Here are the key news stories impacting NovoCure this week:

• Positive Sentiment: HC Wainwright still reiterated a Buy rating on NovoCure and maintained a $46 price target, suggesting analysts still see substantial upside despite the trial setback. Benzinga report
• Neutral Sentiment: HC Wainwright trimmed its FY2029 EPS estimate to $1.95 from $2.07 and its FY2030 EPS estimate to $4.15 from $4.31, indicating a modestly softer long-term outlook rather than a major forecast reset.
• Negative Sentiment: NovoCure reported that the TRIDENT Phase 3 trial failed to achieve its primary endpoint of improving overall survival when started at chemoradiation, a significant disappointment for a key clinical program. Reuters article
• Negative Sentiment: Multiple reports highlighted that NovoCure shares fell sharply after the late-stage setback, and a legal investigation was also initiated following the announcement, adding to investor concerns. Investigation announcement

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.