Wells Fargo is “encouraged” by Novocure’s (NVCR) ASCO presentation, saying the data and panel were generally positive on PANOVA-3 and tumor treating fields for pancreatic cancer. The firm believes the key PANOVA-3 endpoints were generally positive. Wells sees the data as supporting approval and adoption in pancreatic cancer. It models a late 2026 U.S. launch with further launches to follow in 2027, and material revenue starting in 2028. Wells keeps an Overweight rating on Novocure with a $40 price target The stock in midday trading is down 7% to $17.73.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NVCR:
- NovoCure Announces Positive Phase 3 Trial Results
- Positive Buy Rating for NovoCure Driven by Promising PANOVA-3 Trial Results in Pancreatic Cancer Treatment
- Positive Outlook for NovoCure Amid Promising PANOVA-3 Trial Results and Anticipated FDA Approval
- Novocure announces results from Phase 3 PANOVA-3 trial
- NovoCure’s Strong Financial Performance and Promising Pipeline Drive Buy Rating