Novocure upgraded to Buy from Neutral at H.C. Wainwright

H.C. Wainwright upgraded Novocure to Buy from Neutral with a price target of $30, up from $24. The company’s Optune Lua received FDA approval with a favorable label, the analyst tells investors in a research note. The firm believes physicians will be inclined to utilize Optune Lua in the second-line setting. The non-small cell lung cancer opportunity is potentially much larger than the commercial business in glioblastoma, which could lead to significant sales growth following 2025, contends H.C. Wainwright.