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NVCR · NASDAQ · Medical - Devices

Novocure (NVCR)

Develops wearable TTFields devices for brain, thoracic and pancreatic tumors.

$16.36
vs last close−0.31 (−1.83%)
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NovoCure LimitedNVCR
Health Care

Develops portable TTFields devices for glioblastoma, non-small cell lung cancer, pleural mesothelioma and locally advanced pancreatic cancer. Monthly therapy fees generate revenue, with Optune Gio and the United States still providing most sales.

Develops and commercializes Tumor Treating Fields (TTFields), a device-based cancer therapy that applies alternating electric fields through skin-mounted arrays. Optune Gio treats glioblastoma, Optune Lua treats non-small cell lung cancer and pleural mesothelioma, and Optune Pax treats locally advanced pancreatic cancer.

Pairs wearable hardware with prescription fulfillment, patient training, technical support and reimbursement assistance for continuous at-home treatment. Monthly therapy fees generate revenue. Most sales still come from Optune Gio, led by the United States and followed by major markets in Europe and Japan; Greater China is served through Zai Lab.

Commercial adoption depends on regulatory approvals, physician certification, payer coverage and collections. Manufacturing is outsourced, while prescriptions, treatment duration and reimbursed monthly fees drive revenue.

Company facts

CEOFrank Leonard
ListedOct 2, 2015
ExchangeNASDAQ
HeadquartersBaar, Switzerland
CountryJersey
Employees1,605
CIK0001645113
ISINJE00BYSS4X48

Market cap$1.94B
EPS (ttm)−$1.30
P/E (ttm)−12.82
ROE-44.0%
P/B5.74
P/S2.78
Dividend yieldDiv yield—
Beta1.56vs XLV 1.39

Price target$26.00+56.0%Average of 15 analysts
ConsensusBuy9 of 15 analysts
Ratings

Target rangeAs of Sep 22, 2026

Latest analyst notes

DateFirmActionPriorCurrent
Jul 24, 2026WedbushReiterate
Rating: —Target: —
Rating: NeutralTarget: $20
Jul 24, 2026H.C. WainwrightTarget
Target: $52
Target: $32
Jul 23, 2026H.C. WainwrightReiterate
Rating: —Target: $46
Rating: BuyTarget: $52
Jun 18, 2026H.C. WainwrightTarget
Target: $47
Target: $46
Feb 12, 2026H.C. WainwrightTarget
Target: $39
Target: $47

Next report
Oct 29, 26
in 36 days
EPS estimate
−$0.24
Revenue estimate
$182.3M
Fiscal quarter
Q3 FY26

EPSReportedEstimate

Feb '25Apr '25Jul '25Oct '25Feb '26Apr '26Jul '26Oct '26
Reported−$0.61−$0.31−$0.36−$0.33−$0.22−$0.62−$0.13Pending
Estimate−$0.34−$0.47−$0.39−$0.42−$0.41−$0.51−$0.33−$0.24
Surprise−79.4%+34.0%+7.7%+21.4%+46.3%−21.0%+60.8%—

RevenueReportedEstimate

Feb '25Apr '25Jul '25Oct '25Feb '26Apr '26Jul '26Oct '26
Reported$161.3M$155.0M$158.8M$167.2M$174.4M$174.1M$183.6MPending
Estimate$147.6M$153.9M$158.8M$174.4M$174.4M$167.8M$172.4M$182.3M
Surprise+9.3%+0.7%0.0%−4.1%0.0%+3.7%+6.5%—
Estimate−$0.24
ReportedDue Oct 29, 2026
Estimate$182.3M
ReportedDue Oct 29, 2026
View details

Debt to equity69.00%
Current ratio289.30%

ProfitabilityRevenueNet incomeNet margin

Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Revenue$155.1M$161.3M$155.0M$158.8M$167.2M$174.4M$174.1M$183.6M
Net income−$30.6M−$65.9M−$34.3M−$40.1M−$37.3M−$24.5M−$71.1M−$15.7M
Net margin0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

GrowthOperating income

Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Operating income−$32.1M−$63.3M−$37.9M−$39.5M−$36.0M−$40.4M−$67.4M−$10.6M
YoY growthLoss narrowedLoss widenedLoss narrowedLoss widenedLoss widenedLoss narrowedLoss widenedLoss narrowed

Balance sheet, Jun 30, 2026Cash & short-term investments $440.6M · Total debt $233.4M · Total assets $795.2M · Shareholders' equity $338.1M

Revenue
$183.6M
Operating income
−$10.6M
Net income
−$15.7M
View details

No dividends on record.

Institutions89.79%104.56M shares
231 holders · as of Jun 30, 2026
Insiders9.72%11.31M shares
19 holders · as of Jul 1, 2026
Other0.49%575.8K shares
remainder

116.45M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing

Top shareholders13F · 13D/G · Form 4

HolderStakeSharesDate
FMR LLCInstitution
14.92%17.37Mas of Jun 30, 2026
BlackRock, Inc.Institution
11.52%13.41Mas of Jun 30, 2026
Soleus Capital Master Fund, L.P.Institution
9.01%10.49Mfiled May 8, 2026
Soleus Capital Management, L.P.Institution
8.51%9.91Mas of Jun 30, 2026
Hansjoerg Wyss1,2Insider10 percent owner
6.99%8.14Mfiled Feb 1, 2021
  1. Hansjoerg Wyss's transaction reports restate only vehicles that traded; the 2021 ownership statement (8.14M) is used instead.
  2. Hansjoerg Wyss reports a block also reported by BlackRock, Inc.; it is counted once, under BlackRock, Inc.

Insider tradesForm 4

DateInsiderRoleSharesAvg price
Jun 4, 2026Frank X. Leonardofficer: Chief Executive Officer−34,273$17.93
Jun 2, 2026David Hungdirector−2,945$15.77
Jun 2, 2026W. Anthony Vernondirector−2,945$15.77
Jun 2, 2026Jeryl L. Hillemandirector−2,945$15.77
Jun 2, 2026Timothy J. Scannelldirector−2,945$15.77
View details

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Compare

CompanyPriceChange
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Merck$148.00−1.93%$372.73B120.717.15.6+5.1%
Bristol-Myers Squibb$61.67−0.94%$127.16B13.79.72.6+5.7%
AstraZeneca (ADR)$165.35−1.79%$261.12B25.315.64.3+6.4%
Revolution Medicines$191.88−0.51%$41.00B————
Median25.315.64.3+5.7%