NovoCure (NASDAQ:NVCR) Receives “Neutral” Rating from Wedbush

Wedbush reaffirmed their neutral rating on shares of NovoCure (NASDAQ:NVCR) in a research report report published on Monday,RTT News reports. They currently have 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.

NVCR has been the subject of several other reports. HC Wainwright restated a “buy” rating and set a $38.00 target price (up from $30.00) on shares of NovoCure in a report on Monday, December 2nd. Piper Sandler increased their price objective on NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $18.00 to $30.00 in a research note on Monday, December 2nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.67.

NovoCure Trading Up 0.5 %

NVCR stock opened at $26.35 on Monday. The company has a market capitalization of $2.85 billion, a PE ratio of -18.82 and a beta of 0.64. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. NovoCure has a one year low of $11.70 and a one year high of $34.13. The company’s 50 day moving average price is $25.52 and its two-hundred day moving average price is $20.35.

NovoCure (NASDAQ:NVCR) last issued its earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS 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 analysts’ expectations of $143.95 million. During the same quarter last year, the company earned ($0.46) EPS. The firm’s revenue was up 21.8% compared to the same quarter last year. As a group, analysts predict that NovoCure will post -1.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NovoCure

A number of large investors have recently made changes to their positions in NVCR. Lombard Odier Asset Management USA Corp raised its holdings in shares of NovoCure by 5.4% during the second quarter. Lombard Odier Asset Management USA Corp now owns 10,862 shares of the medical equipment provider’s stock valued at $186,000 after acquiring an additional 557 shares in the last quarter. Arizona State Retirement System increased its position in NovoCure by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 28,481 shares of the medical equipment provider’s stock valued at $488,000 after purchasing an additional 581 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in NovoCure by 21.8% in the 3rd 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 in the last quarter. Versant Capital Management Inc lifted its position 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 worth $100,000 after purchasing an additional 880 shares during the period. Finally, Venturi Wealth Management LLC boosted its stake in shares of NovoCure by 58.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock valued at $57,000 after purchasing an additional 1,354 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

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.