NovoCure Ltd. (NVCR) PT Raised to 'Street High' $225 at Piper Sandler
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Piper Sandler analyst Jason Bednar raised the price target on NovoCure Ltd. (NASDAQ: NVCR) to a 'Street High' $225.00 (from $140.00) while maintaining an Overweight rating.
The analyst commented, "Shares of NVCR have nearly tripled since mid-July as investors have quickly grown toappreciate the company's numerous value-creating catalysts that begin in earnest during2021. Following an indepth review of these catalysts, including dialing in true patient TAMsand eventual P&L contributions tied to each of the indications the company is currentlypursuing via Ph3 studies, we're convinced there is meaningful upside left for this stock tomove higher off current levels. As such, we're converting our valuation methodology to anindication-specific sum-of-the-parts approach, which leads us to our new price target of$225. We reiterate our OW rating on shares and continue to recommend purchase of oneof the best open-ended growth platforms in medtech."
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