Leerink Partners analyst Jonathan Chang reiterated a Buy rating on NovoCure (NVCR – Research Report) on February 27 and set a price target of $33.00.
Jonathan Chang has given his Buy rating due to a combination of factors including NovoCure’s solid financial performance and promising pipeline developments. The company reported a 19% increase in net revenues for 2024, driven by the successful launch of Optune Gio in France and improved approval rates in the U.S. This growth is expected to continue, albeit at a more moderate pace, as the company expands its patient base in established markets.
Additionally, NovoCure is advancing its regulatory submissions for new treatments, specifically for locally advanced pancreatic cancer and NSCLC brain metastasis, based on positive data from the PANOVA-3 and METIS studies. The anticipated presentation of full results and potential regulatory approvals are seen as significant catalysts for the company’s future growth. These factors, combined with the existing value of Optune in GBM and recent approvals, contribute to a positive outlook for NovoCure’s stock.
According to TipRanks, Chang is an analyst with an average return of -10.0% and a 31.27% success rate. Chang covers the Healthcare sector, focusing on stocks such as Kura Oncology, Replimune Group, and Bicycle Therapeutics.
In another report released on February 27, Evercore ISI also maintained a Buy rating on the stock with a $38.00 price target.