NovoCure Ltd. (NVCR) PT Lowered to $42 at Wells Fargo

Wells Fargo analyst Larry Biegelsen lowered the price target on NovoCure Ltd. (NASDAQ: NVCR) to $42.00 (from $49.00) while maintaining a Overweight rating.

The analyst comments "Sizing up the brain METS market. NVCR estimates ~17K patients a year that could be treated w/ TTF in the US, out of nearly 30K Stage IV NSCLC patients who are expected to develop brain METS. This represents ~1.5x the size of the current US GBM market. Assuming peak penetration of 20% and 4-month treatment duration, we estimate sales of nearly $120MM/yr in the US alone. We would expect first real launch in early 2026 and reimbursement and thus real revenue in 2027/28."

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