NovoCure's Strongest Quarter Ever Isn't Enough to Stop NVCR Stock From Sliding

NovoCure Ltd. (NASDAQ: NVCR ) shares rose in Friday’s premarket session before dropping after the company raised its full-year 2026 revenue outlook and reported second-quarter earnings and sales above analyst expectations.

The stock closed Thursday at $19.99, up 28.39%. • NovoCure stock is among today’s weakest performers.

Why are NVCR shares down? Earnings Beat Expectations NovoCure posted a loss of 13 cents per share, narrower than the 33 cent loss estimate.

Revenue rose 16% year-over-year to $183.584 million, topping the $172.437 million estimate.

The company raised its fiscal 2026 revenue guidance to $710 million to $725 million from $690 million to $710 million.

The revised range is above the $708.743 million analyst estimate Commercial Momentum Builds Global active patients increased 18% across indications.

Optune Gio ended the quarter with 4,636 active patients, up 11%.

Optune Pax generated 418 prescriptions and had 285 active U.S. patients as of June 30.

NovoCure received a CE Mark for Optune Pax in locally advanced pancreatic cancer, with Germany set as the first European Union launch market.

The company now expects full-year adjusted EBITDA of zero to $15 million, up from its previous range of negative $15 million to break-even.

Management said a redesigned LUNAR-2 trial should reduce spending by about $90 million, with the savings directed to pancreatic cancer programs.

Read Also: Novocure Brain Cancer Study Shows No Significant Survival Benefit, Stock Tanks Pipeline Milestones Ahead NovoCure is targeting a fourth-quarter 2026 FDA decision for TTFields in brain metastases from non-small cell lung cancer.

The company expects to complete Phase 3 KEYNOTE D58 enrollment during the fourth quarter.

The trial is evaluating newly diagnosed glioblastoma.

The update followed topline TRIDENT results in newly diagnosed glioblastoma.

Starting TTFields during chemoradiation showed no statistically significant overall survival benefit.

CEO Frank Leonard said, "With three products approved and one under FDA review, we are shifting that mandate to focus on strengthening our market position and broadening labels." Executive Chairman Bill Doyle said, "This morning we reported our second quarter 2026 results, and I am pleased to say this was our strongest commercial quarter to date with record net revenues and active patients on therapy." Analyst Consensus & Recent Actions NovoCure carries a Buy consensus rating with an average price target of $30.13 across eight analysts.

Wedbush maintained a Neutral rating and raised its target to $20 from $18 on July 24.

H.C.

Wainwright maintained a Buy rating and raised its price target to $52 from $46 on July 23.

JPMorgan reinstated a Neutral rating with a $17 target on July 13.

NVCR Stock Price Action NVCR Stock Price Activity: NovoCure shares were down 7.10% at $18.57 at publication on Friday, according to Pro data.