H.C. Wainwright raised the firm’s price target on Novocure (NVCR) to $38 from $30 and keeps a Buy rating on the shares after the company announced the Phase 3 PANOVA-3 study evaluating Tumor Treating Fields in unresectable, locally advanced pancreatic adenocarcinoma met its primary endpoint by demonstrating a statistically significant median overall survival benefit. The firm, which views pancreatic cancer as “a significant market opportunity,” currently models global peak sales of $1.7B by 2037, is estimating a launch in 2026 and have increased its view of the odds of success to 70% from 20% previously.
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