Buy Rating for NovoCure: Promising Phase 3 METIS Trial Results and FDA Approval Plans

Analyst Emily Bodnar of H.C. Wainwright maintained a Buy rating on NovoCure, retaining the price target of $38.00.

Emily Bodnar has given her Buy rating due to a combination of factors including the promising results from NovoCure’s Phase 3 METIS trial. The trial demonstrated that TTFields therapy, when combined with stereotactic radiosurgery, significantly improved the median time to first intracranial progression compared to stereotactic radiosurgery alone in patients with brain metastases from non-small cell lung cancer. This improvement was evidenced by a notable reduction in progression rates at both 12 and 24 months, indicating a consistent benefit over time.
Moreover, the therapy showed a favorable safety profile with manageable side effects and no significant impact on neurocognitive function or overall quality of life. The Fine-Gray analysis further supported these findings by showing a 28% reduction in the risk of time to first intracranial progression. These positive outcomes, along with the company’s plans to submit a premarket approval application to the FDA, underpin Bodnar’s confidence in the stock’s potential, justifying the Buy rating.

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NVCR in relation to earlier this year.