Is NovoCure Ltd. overvalued or undervalued?

As of 15 October 2023, NovoCure Ltd. has moved from fair to attractive based on recent evaluations. The company appears to be undervalued at this time. Key ratios include a Price-to-Earnings (P/E) ratio of 25.3, a Price-to-Sales (P/S) ratio of 12.1, and a Price-to-Book (P/B) ratio of 4.5, which indicate a favorable valuation compared to its peers.
In comparison, two notable peers are Illumina, Inc. with a P/E ratio of 36.2 and Amgen Inc. with a P/E ratio of 21.5. This suggests that NovoCure is trading at a lower valuation relative to its growth potential. Additionally, NovoCure's recent stock performance has outpaced the Sensex, reinforcing the notion that it may be undervalued in the current market context.