HC Wainwright Has Weak Estimate for NovoCure FY2029 Earnings

NovoCure Limited (NASDAQ:NVCR) – Equities research analysts at HC Wainwright cut their FY2029 earnings per share estimates for shares of NovoCure in a report released on Thursday, June 18th. HC Wainwright analyst E. Bodnar now anticipates that the medical equipment provider will earn $1.95 per share for the year, down from their prior estimate of $2.07. HC Wainwright has a “Buy” rating and a $46.00 price target 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.

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

NovoCure Stock Performance

Shares of NVCR opened at $14.28 on Friday. The firm has a market capitalization of $1.65 billion, a P/E ratio of -9.33 and a beta of 0.93. NovoCure has a 52 week low of $9.82 and a 52 week high of $18.92. The stock has a 50 day moving average price of $15.53 and a two-hundred day moving average price of $13.54. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.70 and a current ratio of 2.90.

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

Insider Transactions at NovoCure

In other NovoCure news, Director Allyson J. Ocean sold 2,945 shares of the 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 completion of the sale, the director owned 11,324 shares in the company, valued at approximately $178,579.48. This trade represents a 20.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director W Anthony Vernon sold 2,945 shares of NovoCure stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total transaction of $46,442.65. Following the transaction, the director directly owned 197,657 shares in the company, valued at approximately $3,117,050.89. This represents a 1.47% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 51,943 shares of company stock worth $893,171. Company insiders own 5.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NVCR. Empowered Funds LLC purchased a new stake in shares of NovoCure during the 4th quarter valued at $33,000. Kestra Advisory Services LLC bought a new stake in shares of NovoCure during the 4th quarter worth $49,000. Larson Financial Group LLC boosted its holdings in shares of NovoCure by 662.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,100 shares of the medical equipment provider’s stock worth $53,000 after buying an additional 3,562 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of NovoCure by 25.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,442 shares of the medical equipment provider’s stock worth $70,000 after buying an additional 1,120 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in NovoCure during the first quarter valued at about $87,000. Institutional investors own 84.61% of the company’s stock.

NovoCure News Roundup

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.