Novocure price target lowered to $27 from $29 at Wedbush

Wedbush lowered the firm’s price target on Novocure (NVCR) to $27 from $29 and keeps a Neutral rating on the shares ahead of quarterly results. The firm expects continued modest growth in the core Optune GBM franchise. The company expects net revenue growth to better reflect the growth in active patients in 2025, which management forecasts will be in the low to mid-single digits. Wedbush continues to hold the view that any meaningful growth must come from indications outside GBM.