Piper Sandler has adjusted its price target for Novocure (NVCR, Financial) from $42 to $34 while maintaining an Overweight rating for the company. This comes as the firm prepares for Novocure's upcoming quarterly earnings report. The brokerage firm observed that current policy uncertainties and a fluctuating economic landscape might present advantageous scenarios for value-focused investors.
Despite expectations of average performance in the glioblastoma multiforme (GBM) sector, particularly outside of France, Piper Sandler anticipates the expansion in non-small cell lung cancer (NSCLC) treatments and patient enrollment to be a more significant factor influencing Novocure's stock trajectory. The firm underscores that the prevailing investor doubts regarding success in the NSCLC category could set the stage for a potentially optimistic outcome with the forthcoming financial disclosures.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 6 analysts, the average target price for NovoCure Ltd (NVCR, Financial) is $34.00 with a high estimate of $40.00 and a low estimate of $27.00. The average target implies an upside of 105.94% from the current price of $16.51. More detailed estimate data can be found on the NovoCure Ltd (NVCR) Forecast page.
Based on the consensus recommendation from 7 brokerage firms, NovoCure Ltd's (NVCR, Financial) average brokerage recommendation is currently 2.1, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for NovoCure Ltd (NVCR, Financial) in one year is $36.28, suggesting a upside of 119.75% from the current price of $16.51. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the NovoCure Ltd (NVCR) Summary page.