NovoCure’s (NVCR) Neutral Rating Reiterated at Wedbush

Wedbush reissued their neutral rating on shares of NovoCure (NASDAQ:NVCR) in a research report sent to investors on Monday,RTT News reports. The brokerage currently has a $29.00 price target on the medical equipment provider’s stock. Wedbush also issued estimates for NovoCure’s Q4 2024 earnings at ($0.27) EPS, FY2024 earnings at ($1.22) 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.

Several other equities research analysts have also issued reports on the stock. HC Wainwright restated a “buy” rating and set a $38.00 price target (up previously from $30.00) on shares of NovoCure in a research note on Monday, December 2nd. Piper Sandler raised their target price on NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Evercore ISI raised NovoCure from an “in-line” rating to an “outperform” rating and upped their price target for the company from $18.00 to $30.00 in a research report on Monday, December 2nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, NovoCure presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.67.

NovoCure Stock Up 0.5 %

NVCR stock opened at $26.35 on Monday. The stock has a market cap of $2.85 billion, a P/E ratio of -18.82 and a beta of 0.64. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The stock’s fifty day simple moving average is $25.52 and its two-hundred day simple moving average is $20.35. NovoCure has a 1-year low of $11.70 and a 1-year high of $34.13.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The company had revenue of $155.10 million for the quarter, compared to the consensus estimate of $143.95 million. During the same period in the previous year, the firm earned ($0.46) EPS. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. Analysts expect that NovoCure will post -1.32 EPS for the current year.

Institutional Investors Weigh In On NovoCure

Several institutional investors have recently made changes to their positions in NVCR. Lombard Odier Asset Management USA Corp grew its holdings in NovoCure by 5.4% during the 2nd quarter. Lombard Odier Asset Management USA Corp now owns 10,862 shares of the medical equipment provider’s stock valued at $186,000 after buying an additional 557 shares in the last quarter. Arizona State Retirement System raised its position in shares of NovoCure by 2.1% in the second quarter. Arizona State Retirement System now owns 28,481 shares of the medical equipment provider’s stock worth $488,000 after buying an additional 581 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in NovoCure by 21.8% during 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 buying an additional 701 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of NovoCure by 35.8% in 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 in the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of NovoCure by 58.5% in the third quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock worth $57,000 after purchasing an additional 1,354 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.