Trump announces 100% chip tariff as Apple ups U.S. investment
On Monday, H.C. Wainwright analysts maintained their Buy rating and $38 price target on NovoCure Ltd. (NASDAQ: NASDAQ:NVCR) stock, aligning with the broader analyst consensus that sees up to 73% upside potential. According to InvestingPro data, six analysts have recently revised their earnings expectations upward for the upcoming period. This decision follows the presentation of the PANOVA-3 trial data at the American Society of Clinical Oncology (ASCO) event this weekend.
The Phase 3 PANOVA-3 trial, which included 571 participants, evaluated the combination of Tumor Treating Fields (TTFields) therapy with gemcitabine and nab-paclitaxel against the standard gemcitabine and nab-paclitaxel treatment for first-line locally advanced, unresectable pancreatic cancer. The trial achieved its primary endpoint of overall survival, marking it as the first Phase 3 trial in this cancer type to demonstrate a survival benefit over the standard treatment. The company, currently valued at $2.1 billion, has maintained impressive gross margins of 77% while achieving 18% year-over-year revenue growth.
The median overall survival in the treatment group was 16.2 months, compared to 14.16 months in the control group, indicating a statistically significant two-month improvement. Although no significant benefits were observed in progression-free survival or objective response rate, the TTFields therapy showed favorable results in pain-free survival and quality of life measures. Want deeper insights? InvestingPro subscribers get access to exclusive analysis, including 5 additional ProTips and comprehensive financial health scores.
The use of TTFields was generally safe, with adverse events consistent with previous studies and the known safety profile of the chemotherapy regimen. However, localized skin reactions were more common in the TTFields group, with dermatitis, rash, and pruritus being the most reported issues. Based on InvestingPro’s Fair Value analysis, the stock is currently trading near its Fair Value, with a strong financial health score reflecting its solid balance sheet position.
In other recent news, NovoCure has reported significant developments in its treatment for non-small cell lung cancer (NSCLC). The company announced receiving 92 prescriptions for its Optune Lua device in the latest quarter, with 62 patients actively undergoing treatment. This marks a notable increase from the previous quarter’s figures and resulted in $0.7 million in revenues, exceeding initial expectations. Additionally, NovoCure’s Optune Lua has gained CE Mark approval for treating metastatic NSCLC in Europe, allowing its use alongside immune checkpoint inhibitors or docetaxel. The approval is supported by the Phase 3 LUNAR trial, which showed a meaningful extension in median overall survival for patients. The trial reported an 18.5-month median overall survival for patients using Optune Lua with immune checkpoint inhibitors, compared to 10.8 months with inhibitors alone. H.C. Wainwright has maintained a Buy rating on NovoCure, with a price target of $38, citing the company’s expanding prescriber base and positive reimbursement processes. The firm has also revised its revenue estimates for NSCLC treatments to $10 million for 2025. NovoCure plans to launch the device in Germany, with further European expansion anticipated.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.