UPDATE: NovoCure Ltd. (NVCR) PT Raised to $235 at Piper Sandler Following Bull vs. Bear Debate (CORRECT)
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Piper Sandler analyst Jason Bednar raised the price target on NovoCure Ltd. (NASDAQ: NVCR) to $235.00 (from $225.00) while maintaining an Overweight rating following Bull vs. Bear debate.
The analyst commented, "We are hosting a Bull vs. Bear style debate within the medtech group at Piper Sandler withNovoCure the focus of today's debate. Shares are up 15% ytd vs. +11% for the S&P, duelargely to a ~50% move higher earlier this week following a positive update regarding thecompany's Ph3 LUNAR trial. Even still, NVCR represents one of the more controversialstocks on our coverage list across a number of topics, with bulls pointing to NVCR beingone of the most catalyst-rich stories in medtech with a sizable opportunity for TTFields tobe a platform technology, while bears disagree with the potential applicability of TTFieldsin alternative indications and believe current valuation doesn't account for a number ofclinical, regulatory, and commercialization risks that exist. We plan to unpack these andother topics in our live debate later today."
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