NovoCure Ltd. (NVCR) PT Raised to $42 at Piper Sandler 'Ahead of a New Set of Catalysts in 2025'

Piper Sandler analyst Jason Bednar raised the price target on NovoCure Ltd. (NASDAQ: NVCR) to $42.00 (from $28.00) while maintaining a Overweight rating.

The analyst said: "We’re providing updated thoughts on the recent positive headline data for NVCR’s Ph3 PANOVA-3 trial (locally advanced pancreatic cancer), and we’re also reviewing today the next set of catalysts for NVCR investors. On this latter point and as we’ve been increasingly discussing with this stock, we think the catalyst path for NVCR shares screens more favorably for medtech investors that can better handicap upcoming "medtechlike" milestones for the company, including new indication commercialization, regulatory submission/approvals, and securing payer coverage (vs. more biotech-focused/binary updates around clinical data). We’re also taking the opportunity to properly update our valuation approach to account for both PANOVA-3 trial success and a GBM business that we believe is deserving of a higher sales multiple (now 3x vs. 2x previously) in light of improved execution we’ve observed now for four consecutive quarters. Finally and as can be seen in our model, we’re introducing formal estimates through 2028."

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