NovoCure Ltd. (NVCR) PT Raised to $242 at Mizuho Securities

Mizuho Securities analyst Difei Yang raised the price target on NovoCure Ltd. (NASDAQ: NVCR) to $242.00 (from $175.00) while maintaining a Buy rating.

The analyst commented, "We are increasing our 12-month price target from $175 to $242 following the positive interim update from the Phase 3 LUNAR trial in non-small cell lung cancer (NSCLC), which we see as supportive of Optune meeting the primary and secondary endpoints at the final trial analysis. NSCLC represents the largest indication for the company, and further reinforces the applicability of Optune across a broad range of cancers. We are raising our NSCLC PoS from 70% to 85%, adding the Europe opportunity in our model, and also pulling forward our U.S. launch timeline (now 3Q23 vs. 3Q24 previously). We believe the risk/reward remains good in NVCR shares ahead of multiple upcoming catalysts/maintain Buy rating."

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