NovoCure (NVCR) has quietly staged a rebound, with the stock up about 9% over the past week and roughly 7% this month, even as its year to date performance remains deeply negative.

That rebound sits against a much tougher backdrop, with the year to date share price return still sharply negative and multi year total shareholder returns deeply in the red. This suggests sentiment is cautiously improving but far from fully repaired.

If NovoCure’s swingy share price has your risk radar on high alert, this is a good moment to explore other healthcare stocks that might offer a different balance of growth and stability.

With shares still down sharply over one and five years, yet trading at a steep discount to analyst targets, investors face a key question: Is NovoCure now undervalued, or is the market already pricing in its recovery potential?

Most Popular Narrative: 46.1% Undervalued

Compared with NovoCure’s last close at $13.44, the most widely followed narrative sees fair value near $24.93, signaling meaningful upside if its assumptions hold.

Ongoing clinical development (TRIDENT, PANOVA-4) and technology enhancements anticipate future expansion into earlier lines of therapy and combination regimens with immunotherapies. This supports long-term competitive positioning and the ability to capture a larger share of the expanding oncology market, with incremental benefits to both revenue growth and margin improvement.

Curious how steady double digit growth, rising margins, and a premium future earnings multiple can coexist with today’s beaten down price? The full narrative unpacks the numbers driving that gap.

Result: Fair Value of $24.93 (UNDERVALUED)

However, slower than expected adoption and continued reimbursement uncertainty could quickly undermine the growth assumptions that support this undervalued narrative.

Build Your Own NovoCure Narrative

If you see the story differently, or would rather dig into the numbers yourself, you can build a personalized view in just a few minutes: Do it your way

A great starting point for your NovoCure research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.