Mizuho Securities USA LLC has initiated coverage with a ‘Buy’ rating and price target of $25 on shares of Novocure’s (NASDAQ: NVCR) stock. Mizuho analysts noted the company’s novel treatment for cancer, Optune, has demonstrated a strong five-year overall survival benefit on cancer patients with glioblastoma (GBM), and the analyst believes it will continue to do well in the medical community. Therefore, the analyst believes Novocure will hit estimated full-year revenue of $165 million in 2017, which would represent a 95% year-over-year increase.
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, Japan and Israel.
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