Will Novocure Stock Rebound After A Large 22% Fall In A Month?

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share price of novocure, a company working on an innovative cancer treatment option using electric fields, has seen its third-quarter results fall 15% in one week, down 22% compared to the previous month. The company reported sales of $134 million, an increase of 4% annually, but below consensus estimates of $141, and a loss of $0.13 on a per-share basis also exceeded consensus estimates of a loss of $0.07 per share. Currently, most of the revenue generated by the company is from glioblastoma and investors are now concerned about the GBM revenue growth rate.

Now, the total GBM market size $2.1 billion (in 2020) itself is relatively small. But, what is important for NVCR are the final data from late-stage studies targeting non-small cell lung cancer. This data is expected to be released in 2022, along with data from two phase two studies targeting gastric cancer, along with data from a late-stage study targeting ovarian cancer in 2023. These are much larger markets than GBM, which means that if the data is positive and the company successfully obtains regulatory approval, the Novocure treatment has wide potential.

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But now that NVCR stock has seen a massive 22% drop in a month, will it continue its downtrend, or is a rise imminent? According to historical performance, there is NVCR stock has a good chance for growth in the next month. Out of 131 instances in the past six years, NVCR stock saw a twenty one day decline of 22% or more, 91 of them resulted in NVCR stock rising in the subsequent one month period (twenty one trading days). This historical pattern represents 91 out of 131, or approximately NVCR stock likely to rise 69% in the coming month, View our analysis Novocure stock likely to rise for more information.

While NVCR stock may see higher levels going forward, it is helpful to see how its counterpart stacks up. check out Novocure stock comparison with peers Click here to see how NVCR stock compares against peers on important metrics. You can find more useful comparisons like this here peer comparison,

Calculation of ‘Probability of Event’ and ‘Probability of Growth’ using data of last four years

  • After rising -15% or more over a five-day period, the stock rose on a 48% chance over the next five days.
  • After rising -12% or more over a ten-day period, the stock rose on 54% of the occasions over the next ten days.
  • After rising -22% or more over a twenty-one day period, the stock rose on 69% of the opportunities over the next twenty-one days.

Novocure Stock Return (Recent) Comparison with Peers

  • Five-Day Returns: LEGN Highest -0.8%; SBTX lowest -18.0%
  • Ten-Day Returns: LEGN Highs of 8.8%; SBTX lowest -16.8%
  • Twenty One Day Returns: SNSE Highs of 3.4%; SBTX lowest -22.6%

While NVCR stock could see higher levels, 2020 has created several pricing discontinuities that could provide lucrative trading opportunities. For example, you’d be surprised how intuitive it is to approach stock valuations. United Therapeutics vs Quest Diagnostics,

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