Novocure price target raised to $42 from $28 at Piper Sandler

Piper Sandler raised the firm’s price target on Novocure (NVCR) to $42 from $28 and keeps an Overweight rating on the shares. The firm thinks the catalyst path for Novocure shares screens more favorably for medical technology investors that can better handicap upcoming “medtech-like” milestones for the company, including new indication commercialization, regulatory submission and approvals, and securing payer coverage. Piper introduced estimates through 2028 and highlights the company’s improved execution for four consecutive quarters.