H.C. Wainwright analyst Emily Bodnar maintained a Buy rating on NovoCure today and set a price target of $38.00.
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Emily Bodnar’s rating is based on the promising results from NovoCure’s Phase 3 PANOVA-3 trial, which demonstrated significant benefits in pain reduction and quality of life (QoL) measures for patients with locally advanced, unresectable pancreatic cancer. The trial showed that patients receiving TTFields therapy, in combination with gemcitabine and nab-paclitaxel, experienced a notable delay in the deterioration of global health status and pain-related symptoms compared to those receiving only the chemotherapy drugs.
Additionally, the TTFields therapy group had a longer time to first opioid use, indicating better pain management. The therapy was well-tolerated, with mild to moderate skin irritation as the primary side effect, reinforcing its favorable safety profile. These positive outcomes, along with the statistically significant improvement in overall survival and pain-free survival, support the potential for TTFields’ approval and adoption in treating this challenging cancer type.
In another report released on June 27, Piper Sandler also reiterated a Buy rating on the stock with a $34.00 price target.