Why NovoCure Stock Is Sinking This Week
Shares of NovoCure (NASDAQ: NVCR) were sinking 15.5% this week as of the market close on Thursday, according to data from S&P Global Market Intelligence. The decline stemmed primarily from the company's disappointing third-quarter update.
NovoCure reported net revenue in the third quarter of $133.6 million, up only 1% year over year. The average analysts' estimate was for Q3 revenue of $141.2 million. The company posted a net loss in the third quarter of $13.1 million, or $0.13 per share. This reflected significant deterioration from net income of $9.3 million, or $0.09 per share, in the prior-year period. It also missed the consensus estimate of a net loss of $0.07 per share.
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Source Fool.com
