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Thursday, September 6, 2018

Novocure price target raised to $58 from $44 at Mizuho


Mizuho analyst Difei Yang raised his price target for Novocure to $58 after the company reported final results from the Phase 2 trial of Optune plus standard chemotherapy in mesothelioma patients. Data were “impressive” with an overall survival benefit of 6.1 months compared to historical controls, Yang tells investors in a research note. She believes the data reinforce the potential of Optune in additional cancers outside of the brain including non-small cell lung cancer. The analyst reiterates a Buy rating on Novocure.

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