NovoCure (NVCR)
Market Price (5/17/2026): $17.58 | Market Cap: $2.0 BilSector: Health Care | Industry: Life Sciences Tools & Services
NovoCure (NVCR)
Market Price (5/17/2026): $17.58Market Cap: $2.0 BilSector: Health CareIndustry: Life Sciences Tools & Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Oncology Treatments, Show more. | Weak multi-year price returns2Y Excs Rtn is -35%, 3Y Excs Rtn is -154% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -183 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -27% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 21% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -4.0%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -7.1% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -13% Key risksNVCR key risks include [1] persistent unprofitability and cash burn, Show more. |
| Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Oncology Treatments, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -35%, 3Y Excs Rtn is -154% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -183 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -27% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 21% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -4.0%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -7.1% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -13% |
| Key risksNVCR key risks include [1] persistent unprofitability and cash burn, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Strong Q1 2026 Revenue Beat and Raised Full-Year Guidance. NovoCure reported first-quarter 2026 revenue of $174.06 million, surpassing analyst estimates of $167.77 million by 3.75% and marking a 12.3% increase year-over-year. This financial outperformance, combined with an elevated full-year 2026 revenue guidance to a range of $690 million to $710 million (up from the previous $675 million to $705 million), significantly bolstered investor confidence and triggered a stock surge of over 24% following the earnings release.
2. Key Regulatory Approvals and Expanding Market Access for Cancer Therapies. The U.S. FDA granted approval for Optune Pax for the treatment of locally advanced pancreatic cancer, with its subsequent commercial launch demonstrating early traction, including over 800 certified prescribers and more than 160 prescriptions by March 31, 2026. Furthermore, Optune Lua secured reimbursement approval in Japan for non-small cell lung cancer, while Optune Gio gained new coverage decisions in Czechia and British Columbia, collectively expanding the market reach for NovoCure’s Tumor Treating Fields (TTFields) therapy.
Show more
Stock Movement Drivers
Fundamental Drivers
The 41.8% change in NVCR stock from 1/31/2026 to 5/16/2026 was primarily driven by a 37.7% change in the company's P/S Multiple.| (LTM values as of) | 1312026 | 5162026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.40 | 17.58 | 41.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 642 | 674 | 5.0% |
| P/S Multiple | 2.2 | 3.0 | 37.7% |
| Shares Outstanding (Mil) | 112 | 114 | -2.0% |
| Cumulative Contribution | 41.8% |
Market Drivers
1/31/2026 to 5/16/2026| Return | Correlation | |
|---|---|---|
| NVCR | 41.8% | |
| Market (SPY) | 7.1% | 34.9% |
| Sector (XLV) | -5.8% | 21.8% |
Fundamental Drivers
The 37.2% change in NVCR stock from 10/31/2025 to 5/16/2026 was primarily driven by a 33.3% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 5162026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.81 | 17.58 | 37.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 642 | 674 | 5.0% |
| P/S Multiple | 2.2 | 3.0 | 33.3% |
| Shares Outstanding (Mil) | 112 | 114 | -2.0% |
| Cumulative Contribution | 37.2% |
Market Drivers
10/31/2025 to 5/16/2026| Return | Correlation | |
|---|---|---|
| NVCR | 37.2% | |
| Market (SPY) | 9.0% | 36.9% |
| Sector (XLV) | 1.4% | 25.0% |
Fundamental Drivers
The -3.1% change in NVCR stock from 4/30/2025 to 5/16/2026 was primarily driven by a -7.5% change in the company's P/S Multiple.| (LTM values as of) | 4302025 | 5162026 | Change |
|---|---|---|---|
| Stock Price ($) | 18.14 | 17.58 | -3.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 622 | 674 | 8.5% |
| P/S Multiple | 3.2 | 3.0 | -7.5% |
| Shares Outstanding (Mil) | 110 | 114 | -3.4% |
| Cumulative Contribution | -3.1% |
Market Drivers
4/30/2025 to 5/16/2026| Return | Correlation | |
|---|---|---|
| NVCR | -3.1% | |
| Market (SPY) | 34.8% | 36.6% |
| Sector (XLV) | 5.1% | 30.5% |
Fundamental Drivers
The -73.3% change in NVCR stock from 4/30/2023 to 5/16/2026 was primarily driven by a -76.9% change in the company's P/S Multiple.| (LTM values as of) | 4302023 | 5162026 | Change |
|---|---|---|---|
| Stock Price ($) | 65.90 | 17.58 | -73.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 538 | 674 | 25.4% |
| P/S Multiple | 12.9 | 3.0 | -76.9% |
| Shares Outstanding (Mil) | 105 | 114 | -8.0% |
| Cumulative Contribution | -73.3% |
Market Drivers
4/30/2023 to 5/16/2026| Return | Correlation | |
|---|---|---|
| NVCR | -73.3% | |
| Market (SPY) | 84.7% | 28.0% |
| Sector (XLV) | 14.2% | 25.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| NVCR Return | -57% | -2% | -80% | 100% | -57% | 40% | -90% |
| Peers Return | 23% | -5% | -1% | 6% | -8% | -13% | -1% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 100% |
Monthly Win Rates [3] | |||||||
| NVCR Win Rate | 17% | 42% | 33% | 50% | 42% | 60% | |
| Peers Win Rate | 50% | 52% | 40% | 48% | 45% | 36% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| NVCR Max Drawdown | -67% | -37% | -91% | -40% | -64% | -33% | |
| Peers Max Drawdown | -23% | -33% | -33% | -27% | -35% | -25% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ARAY, ISRG, PFE, MRK, BMY. See NVCR Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/15/2026 (YTD)
How Low Can It Go
| Event | NVCR | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -29.3% | -24.5% |
| % Gain to Breakeven | 41.5% | 32.4% |
| Time to Breakeven | 56 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -40.4% | -33.7% |
| % Gain to Breakeven | 67.8% | 50.9% |
| Time to Breakeven | 175 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -45.4% | -19.2% |
| % Gain to Breakeven | 83.3% | 23.8% |
| Time to Breakeven | 87 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -34.0% | -3.7% |
| % Gain to Breakeven | 51.4% | 3.9% |
| Time to Breakeven | 14 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -43.7% | -12.2% |
| % Gain to Breakeven | 77.5% | 13.9% |
| Time to Breakeven | 525 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -43.7% | -6.8% |
| % Gain to Breakeven | 77.5% | 7.3% |
| Time to Breakeven | 525 days | 15 days |
In The Past
NovoCure's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | NVCR | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -29.3% | -24.5% |
| % Gain to Breakeven | 41.5% | 32.4% |
| Time to Breakeven | 56 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -40.4% | -33.7% |
| % Gain to Breakeven | 67.8% | 50.9% |
| Time to Breakeven | 175 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -45.4% | -19.2% |
| % Gain to Breakeven | 83.3% | 23.8% |
| Time to Breakeven | 87 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -34.0% | -3.7% |
| % Gain to Breakeven | 51.4% | 3.9% |
| Time to Breakeven | 14 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -43.7% | -12.2% |
| % Gain to Breakeven | 77.5% | 13.9% |
| Time to Breakeven | 525 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -43.7% | -6.8% |
| % Gain to Breakeven | 77.5% | 7.3% |
| Time to Breakeven | 525 days | 15 days |
In The Past
NovoCure's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About NovoCure (NVCR)
AI Analysis | Feedback
Intuitive Surgical for cancer treatment: Like Intuitive Surgical revolutionized surgery with robotic devices, NovoCure is applying innovative electric field devices to treat solid tumors.
Medtronic for cancer devices: They are like a Medtronic specializing in oncology, developing unique electric field devices as a non-drug therapy for solid tumors.
AI Analysis | Feedback
- Optune: A Tumor Treating Fields (TTFields) device for the treatment of various solid tumors, primarily glioblastoma.
- Optune Lua: A Tumor Treating Fields (TTFields) device specifically marketed for adult patients with glioblastoma.
AI Analysis | Feedback
NovoCure (NVCR) primarily sells its medical devices, Optune and Optune Lua, for the treatment of solid tumors. As such, the company primarily serves individual patients, with sales typically facilitated through healthcare providers and insurance companies.
Based on the company's description, the categories of customers it serves or is actively developing products to serve include:
- Adult patients with glioblastoma: This is the primary customer category for whom Optune and Optune Lua are currently marketed and approved as monotherapy.
- Patients with brain metastases: NovoCure is developing products for this specific indication, representing a significant future customer category.
- Patients with non-small cell lung cancer (NSCLC): This is another key future customer category for whom the company is developing TTFields products. (Other indications like pancreatic cancer, gastric cancer, ovarian cancer, liver cancer, and malignant pleural mesothelioma are also in development.)
AI Analysis | Feedback
nullAI Analysis | Feedback
Frank Leonard, Chief Executive Officer
Frank Leonard was appointed NovoCure's Chief Executive Officer in November/December 2025. He joined NovoCure in 2010 and has held various leadership roles within the company, including establishing its finance, reimbursement, and business development functions, and leading its early innovation and product development teams. Prior to his appointment as CEO, he served as President and oversaw global sales, marketing, and other key business operations. Before joining NovoCure, Mr. Leonard was a venture capital investor focused on high-impact medical technology companies, including NovoCure.
Christoph Brackmann, Chief Financial Officer
Christoph Brackmann has served as NovoCure's Chief Financial Officer since January 2025. He joined NovoCure in October 2024 as a Senior Financial Advisor. Prior to joining NovoCure, Mr. Brackmann was the Senior Vice President of Finance at Moderna since 2019, where he established and built the finance team and oversaw the company's rapid expansion during the COVID-19 pandemic. He also held roles as Vice President of Investor Relations and Head of International Finance at Shire plc (acquired by Takeda), and various financial positions at Eli Lilly and Company and Novartis.
William F. Doyle, Executive Chairman
William Doyle has served as NovoCure's Executive Chairman since 2016, as Chairman of the Board since 2009, and as a member of the Board of Directors since 2004. Since 2002, he has been the managing director of WFD Ventures LLC, a private venture capital firm he co-founded, which provides financing and business building expertise to medical device companies. Before 2002, Mr. Doyle was an executive at Johnson & Johnson, where he was a member of the Medical Devices and Diagnostics Group Operating Committee, Vice President of Licensing and Acquisitions, and Worldwide President of Biosense-Webster, Inc.
Mukund Paravasthu, Chief Operating Officer
Mukund Paravasthu joined NovoCure in 2020 and has served as its Chief Operating Officer since October 2024. In this role, he oversees product innovation and development, supply chain operations, warehousing and distribution, quality assurance, and information technology operations. Prior to becoming COO, he was NovoCure's Senior Vice President of Product Development starting in April 2022. Before joining NovoCure, Mr. Paravasthu held several leadership roles at Johnson & Johnson's orthopedic franchise, DePuy Synthes, including Global Head of R&D for the Sports Medicine & Shoulder Reconstruction Business, Vice President of Advanced R&D, and Vice President of Digital Solutions.
Uri Weinberg, M.D., Ph.D., Chief Innovation Officer
Dr. Uri Weinberg serves as NovoCure's Chief Innovation Officer, a role he assumed in January 2023. He is responsible for expanding the innovative potential of Tumor Treating Fields (TTFields) therapy and developing real-world evidence. Dr. Weinberg joined NovoCure in 2008 and has held various positions, including Chief Science Officer, where he oversaw early-stage research and development, as well as the design of clinical trials. He managed NovoCure's first clinical trial in lung cancer and the pivotal EF-14 trial for newly diagnosed glioblastoma.
AI Analysis | Feedback
```htmlKey Risks to NovoCure (NVCR)
-
Persistent Unprofitability and Cash Burn
NovoCure has consistently experienced unprofitability, negative net profit margins, and increasing net losses over several years, with projections indicating it may remain unprofitable for at least the next three years. This ongoing cash burn raises concerns about the company's path to sustainable earnings and overall financial stability.
-
Over-reliance on Tumor Treating Fields (TTFields) Technology and Clinical/Regulatory Risks for Pipeline Expansion
The company's business model is largely dependent on the success and broader adoption of its singular Tumor Treating Fields (TTFields) technology, Optune. While Optune is approved for glioblastoma and certain other indications, expanding its utility into new cancer types, such as brain metastases, non-small cell lung cancer, pancreatic cancer, gastric cancer, ovarian cancer, liver cancer, and malignant pleural mesothelioma, is subject to successful clinical trials, regulatory approvals, and demonstrating sufficient efficacy. There are concerns that TTFields' utility outside of glioblastoma may be limited, with new indications contributing minimally to revenue and facing significant adoption challenges, particularly given that some trials have shown only modest survival benefits.
-
Reimbursement and Adoption Challenges, including Patient Compliance
Despite regulatory approvals, NovoCure faces significant hurdles in securing widespread reimbursement and achieving broad clinical adoption of its TTFields therapy. As a novel therapy, it requires consistent physician education, strong insurance support, and high patient compliance. The treatment necessitates patients wearing the device for extended periods (over 18 hours daily), and practical challenges such as skin irritation can impact adherence, potentially slowing adoption rates and limiting market penetration.
AI Analysis | Feedback
null
AI Analysis | Feedback
NovoCure Limited's primary products and pipeline target several significant oncology markets. The addressable markets for their main products and services, primarily utilizing Tumor Treating Fields (TTFields) devices such as Optune and Optune Lua, are detailed below:
Glioblastoma (Optune / Optune Gio)
- The global glioblastoma treatment market was estimated at approximately 3.0 billion USD in 2024 and is projected to reach 6.1 billion USD by 2033, growing at a Compound Annual Growth Rate (CAGR) of 8.5% from 2025-2033. Other estimates place the global market size at 3.02 billion USD in 2025, growing to 4.65 billion USD by 2031 at a CAGR of 7.45%.
- In North America, the glioblastoma treatment market held 40.01% of the global market in 2025, with another source reporting it as 41.5% revenue share in 2024. The North American market was valued at 1.4 billion USD in 2023 and is projected to increase to 2.2 billion USD by 2032. The U.S. market alone was estimated at 2.06 billion USD in 2024 and is expected to reach 4.48 billion USD by 2034, with a CAGR of 8.13% between 2025 and 2034.
- The Glioblastoma Multiforme market size across the 7MM (United States, EU4, UK, and Japan) was approximately 835 million USD in 2023, with the United States accounting for about 70% of this market.
Pancreatic Cancer (Optune Pax)
- For locally advanced pancreatic cancer, the U.S. addressable market for Optune Pax is approximately 15,000 patients annually. NovoCure's CEO stated this opportunity is slightly larger than the company's core brain cancer business.
- The global pancreatic cancer treatment market size is projected to reach 5.84 billion USD by 2030.
- In 2024, the United States accounted for the highest pancreatic cancer treatment market size in the 7MM, with approximately 63,000 incident cases.
Non-Small Cell Lung Cancer (Optune Lua)
- The global non-small cell lung cancer market size was calculated at 20.09 billion USD in 2024 and is projected to reach approximately 49.78 billion USD by 2034, exhibiting a CAGR of 9.5% from 2025 to 2034. Another report estimated the global market size at 21.45 billion USD in 2024, projected to reach 43.89 billion USD by 2030, with a CAGR of 12.71% from 2025 to 2030.
- North America dominated the non-small cell lung cancer therapeutics industry globally with a market share of 35.41% in 2024.
Malignant Pleural Mesothelioma (Optune Lua)
- The global malignant mesothelioma market size reached a value of 6.1 billion USD in 2023 and is expected to reach 12.2 billion USD by 2034, growing at a CAGR of 6.5% during 2024-2034. Other estimates show the global market at 2.2 billion USD in 2024, expected to reach 3.5 billion USD by 2031, growing at a CAGR of 7.80% during 2025 to 2031.
- North America is the dominant region for the malignant mesothelioma market, holding a 45.3% share in 2025.
Ovarian Cancer
- The global ovarian cancer drugs market size was estimated at 4.09 billion USD in 2025 and is projected to reach approximately 7.78 billion USD by 2035, growing at a CAGR of 6.64% during the forecast period 2026 to 2035.
- The U.S. ovarian cancer drugs market size was evaluated at 1.30 billion USD in 2025 and is projected to be worth around 2.57 billion USD by 2035, growing at a CAGR of 7.05% from 2026 to 2035. North America dominated the market with the largest revenue share of 44% in 2025.
- The High-Grade vs. Low-Grade Serous Ovarian Cancer market size in the 7MM (US, EU4, UK, and Japan) is expected to grow from 3,012 million USD in 2025 to 5,703 million USD in 2034. The US accounted for the largest market size, with nearly 1,922 million USD in 2024.
AI Analysis | Feedback
```htmlNovoCure (NVCR) anticipates several key drivers of future revenue growth over the next two to three years, stemming from the continued expansion of its existing therapies and the launch of new indications.
Here are 3-5 expected drivers:
- Continued Global Expansion of Optune Gio: NovoCure expects sustained revenue growth from its flagship glioblastoma (GBM) treatment, Optune Gio. This growth is projected to be in the low to mid-single-digit percentage range, particularly driven by its established international markets such as Germany, France, and Japan. The company also anticipates modest revenue contributions from recent or upcoming launches of Optune Gio in new markets, including Spain, Czechia, and British Columbia.
- Increasing Adoption of Optune Lua for Non-Small Cell Lung Cancer (NSCLC): Despite a slower initial uptake in some regions, Optune Lua for NSCLC is identified as a significant future revenue driver. NovoCure projects non-GBM products, primarily Optune Lua, to contribute between $15 million and $25 million in net revenue in 2026, an increase from $10 million in 2025. Expanded reimbursement, such as the national reimbursement in Spain, is expected to boost Optune Lua's revenue in 2026, and the company is also preparing for its launch in Japan. Analysts highlight the substantial market potential for Optune Lua, estimated to be seven times larger than the legacy GBM business.
- Launch and Commercialization of Optune Pax for Pancreatic Cancer: The FDA approval of Optune Pax for locally advanced pancreatic cancer in February 2026 marks a crucial new revenue stream for NovoCure. The company has already begun the launch process in the U.S., with regulatory filings also submitted in Europe and Japan. Optune Pax is expected to be a key commercial catalyst, contributing to the projected non-GBM product revenue in 2026.
- Pipeline Expansion into Brain Metastases from Non-Small Cell Lung Cancer: NovoCure's strategic focus on becoming a multi-indication platform company includes advancing its pipeline for additional cancer types. The company has submitted PMA applications to the FDA for TTFields therapy in brain metastases from non-small cell lung cancer, with an FDA decision anticipated in the fourth quarter of 2026. Successful approval and subsequent commercialization in this indication would significantly broaden NovoCure's addressable market and contribute to long-term revenue growth, with other pipeline projects expected to launch between 2026 and 2028.
AI Analysis | Feedback
Share Repurchases
No information is available regarding share repurchases made or authorized by NovoCure over the last 3-5 years.
Share Issuance
- NovoCure's additional paid-in capital increased by approximately $114.455 million from December 31, 2024, to December 31, 2025.
- Additional paid-in capital increased by approximately $122.474 million from December 31, 2021, to December 31, 2022.
- Between December 31, 2020, and December 31, 2021, NovoCure's additional paid-in capital showed a decrease of approximately $11.846 million, indicating no net issuance for capital raising in 2021.
Inbound Investments
- In May 2024, NovoCure secured a new five-year, up to $400 million committed senior secured credit facility with funds managed by Pharmakon Advisors, LP.
- The credit facility was structured in four tranches of $100 million, with the first $100 million drawn at closing and the second $100 million expected by June 30, 2025.
- An additional $200 million from this facility is available to be drawn at NovoCure's discretion, subject to certain milestones, through March 31, 2026.
Outbound Investments
NovoCure has not made any investments or acquisitions of other companies within the last 3-5 years.
Capital Expenditures
Explicit dollar values for NovoCure's capital expenditures (purchases of property, plant, and equipment) over the last 3-5 years are not available in the provided information.
Latest Trefis Analyses
Trade Ideas
Select ideas related to NVCR.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 04302026 | GEHC | GE HealthCare Technologies | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | IQV | IQVIA | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | UHS | Universal Health Services | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | ABT | Abbott Laboratories | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 0.0% | 0.0% | 0.0% |
| 04302026 | ZBIO | Zenas BioPharma | Insider | Insider Buys 45DStrong Insider BuyingCompanies with multiple insider buys in the last 45 days | 0.0% | 0.0% | 0.0% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 41.16 |
| Mkt Cap | 130.2 |
| Rev LTM | 29,533 |
| Op Inc LTM | 8,096 |
| FCF LTM | 6,159 |
| FCF 3Y Avg | 5,164 |
| CFO LTM | 7,672 |
| CFO 3Y Avg | 7,058 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.3% |
| Rev Chg 3Y Avg | 3.1% |
| Rev Chg Q | 5.1% |
| QoQ Delta Rev Chg LTM | 1.2% |
| Op Inc Chg LTM | -3.4% |
| Op Inc Chg 3Y Avg | 24.3% |
| Op Mgn LTM | 22.1% |
| Op Mgn 3Y Avg | 18.6% |
| QoQ Delta Op Mgn LTM | -0.8% |
| CFO/Rev LTM | 23.1% |
| CFO/Rev 3Y Avg | 23.4% |
| FCF/Rev LTM | 18.2% |
| FCF/Rev 3Y Avg | 16.2% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 130.2 |
| P/S | 2.7 |
| P/Op Inc | 8.9 |
| P/EBIT | 11.9 |
| P/E | 17.6 |
| P/CFO | 10.4 |
| Total Yield | 4.1% |
| Dividend Yield | 1.5% |
| FCF Yield 3Y Avg | 3.1% |
| D/E | 0.3 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -4.5% |
| 3M Rtn | -7.1% |
| 6M Rtn | 13.1% |
| 12M Rtn | 8.5% |
| 3Y Rtn | -9.3% |
| 1M Excs Rtn | -9.7% |
| 3M Excs Rtn | -15.5% |
| 6M Excs Rtn | 1.8% |
| 12M Excs Rtn | -12.8% |
| 3Y Excs Rtn | -91.0% |
Comparison Analyses
Price Behavior
| Market Price | $17.58 | |
| Market Cap ($ Bil) | 2.0 | |
| First Trading Date | 10/02/2015 | |
| Distance from 52W High | -9.4% | |
| 50 Days | 200 Days | |
| DMA Price | $13.09 | $12.73 |
| DMA Trend | down | up |
| Distance from DMA | 34.3% | 38.1% |
| 3M | 1YR | |
| Volatility | 97.9% | 74.3% |
| Downside Capture | 309.56 | 238.11 |
| Upside Capture | 393.67 | 171.36 |
| Correlation (SPY) | 44.7% | 35.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.82 | 2.16 | 2.10 | 2.14 | 2.02 | 1.45 |
| Up Beta | 2.07 | 2.16 | 2.64 | 3.16 | 2.73 | 1.38 |
| Down Beta | 0.94 | 1.35 | 0.29 | 0.83 | 1.24 | 1.23 |
| Up Capture | 245% | 204% | 258% | 247% | 169% | 104% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 11 | 19 | 28 | 57 | 115 | 338 |
| Down Capture | 870% | 273% | 220% | 191% | 176% | 112% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 10 | 23 | 35 | 66 | 131 | 405 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NVCR | |
|---|---|---|---|---|
| NVCR | 8.9% | 74.0% | 0.42 | - |
| Sector ETF (XLV) | 14.8% | 14.9% | 0.71 | 27.7% |
| Equity (SPY) | 27.4% | 12.1% | 1.71 | 34.9% |
| Gold (GLD) | 42.5% | 26.8% | 1.30 | 1.4% |
| Commodities (DBC) | 45.4% | 18.5% | 1.88 | -15.6% |
| Real Estate (VNQ) | 11.5% | 13.5% | 0.56 | 21.6% |
| Bitcoin (BTCUSD) | -23.7% | 41.8% | -0.54 | 25.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NVCR | |
|---|---|---|---|---|
| NVCR | -36.6% | 79.3% | -0.23 | - |
| Sector ETF (XLV) | 4.8% | 14.7% | 0.15 | 26.7% |
| Equity (SPY) | 13.6% | 17.1% | 0.63 | 31.0% |
| Gold (GLD) | 19.4% | 17.9% | 0.88 | 2.4% |
| Commodities (DBC) | 10.9% | 19.4% | 0.45 | 1.5% |
| Real Estate (VNQ) | 2.9% | 18.8% | 0.06 | 23.7% |
| Bitcoin (BTCUSD) | 7.2% | 55.9% | 0.34 | 16.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with NVCR | |
|---|---|---|---|---|
| NVCR | 4.0% | 72.1% | 0.37 | - |
| Sector ETF (XLV) | 9.6% | 16.5% | 0.47 | 31.0% |
| Equity (SPY) | 15.5% | 17.9% | 0.74 | 32.0% |
| Gold (GLD) | 13.0% | 16.0% | 0.67 | 2.2% |
| Commodities (DBC) | 8.3% | 17.9% | 0.38 | 6.4% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.21 | 22.7% |
| Bitcoin (BTCUSD) | 67.4% | 66.9% | 1.06 | 11.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 1/12/2026 | -1.2% | -4.9% | -27.0% |
| 10/30/2025 | -4.9% | -13.9% | -13.4% |
| 7/24/2025 | -24.0% | -33.6% | -27.9% |
| 4/24/2025 | 4.4% | 2.1% | 1.9% |
| 1/13/2025 | -0.3% | -4.7% | -22.7% |
| 10/30/2024 | 0.6% | -1.6% | 16.6% |
| 7/25/2024 | -0.7% | 21.2% | -9.6% |
| 5/2/2024 | 11.4% | 25.8% | 72.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 10 | 12 |
| # Negative | 15 | 14 | 12 |
| Median Positive | 4.4% | 6.1% | 12.7% |
| Median Negative | -5.0% | -6.0% | -14.3% |
| Max Positive | 12.0% | 25.8% | 72.8% |
| Max Negative | -24.0% | -33.6% | -27.9% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 07/24/2025 | 10-Q |
| 03/31/2025 | 04/24/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 07/25/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 10/27/2022 | 10-Q |
| 06/30/2022 | 07/28/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 1/12/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Topline data from Phase 2 PANOVA-4 clinical trial | Affirmed | Guidance: 0 for Q1 2026 | |||||
| Q2 2026 Topline data from Phase 3 TRIDENT clinical trial | Affirmed | Guidance: 0 for Q2 2026 | |||||
| Q2 2026 FDA decision on PMA application for locally advanced pancreatic cancer | |||||||
| Q4 2026 FDA decision on PMA application for brain metastases from NSCLC | |||||||
| Q4 2026 Complete enrollment in Phase 3 KEYNOTE D58 clinical trial | |||||||
Prior: Q3 2025 Earnings Reported 10/30/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 PMA Application Submission (Brain Metastases) | Affirmed | Guidance: 0 for 2025 | |||||
| Q1 2026 Topline Data Readout (PANOVA-4) | Affirmed | Guidance: 0 for 2026 | |||||
| Q2 2026 Topline Data Readout (TRIDENT) | Affirmed | Guidance: 0 for 2026 | |||||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Paravasthu, Mukund | Chief Operating Officer | Direct | Sell | 3052026 | 13.77 | 43,246 | 595,670 | 1,003,188 | Form |
| 2 | Leupin, Nicolas | Former Chief Medical Officer | Direct | Sell | 3052026 | 13.31 | 1,100 | 14,636 | 1,370,177 | Form |
| 3 | Weinberg, Uri | Chf Medical and Innovation Ofr | Direct | Sell | 3052026 | 13.31 | 6,412 | 85,314 | 3,555,070 | Form |
| 4 | Brackmann, Christoph | Chief Financial Officer | Direct | Sell | 3052026 | 13.31 | 6,412 | 85,314 | 2,432,786 | Form |
| 5 | Leonard, Frank X | Chief Executive Officer | Direct | Sell | 3052026 | 13.31 | 5,607 | 74,603 | 6,570,113 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.