Aegis Capital has reiterated a ‘Buy’ rating and price target of $14 on shares of Novocure’s (NASDAQ: NVCR) stock following the company’s news that Health Care Service Corporation (HCSC) will cover Optune for members who have newly diagnosed glioblastoma (GBM). The analyst said the additional coverage for Optune should result in a higher percentage of accrual-based revenue over time. The positive decision from HCSC brings the count of covered Americans to 204 million and is effective as of June 15, 2017.
For more information, visit www.novocure.com
Novocure is an oncology company developing a profoundly different cancer treatment utilizing a proprietary therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Novocure’s commercialized product, Optune, is approved for the treatment of adult patients with glioblastoma. Novocure has ongoing or completed clinical trials investigating TTFields in brain metastases, non-small cell lung cancer, pancreatic cancer, ovarian cancer and mesothelioma. Headquartered in Jersey, Novocure has U.S. operations in Portsmouth, New Hampshire, Malvern, Pennsylvania, and New York City. Additionally, the company has offices in Germany, Switzerland and Japan, and a research center in Israel.
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