tiprankstipranks
Medicare paying 9% more for Novocure’s Optune system in 2023, says Piper
The Fly

Medicare paying 9% more for Novocure’s Optune system in 2023, says Piper

Piper Sandler analyst Jason Bednar says he recently learned the payment rate from Medicare covering the monthly use of Novocure’s Optune system rose to $15,300 effective January 1, a nearly 9% increase from the Medicare payment rate in 2022. This represents a greater bump than 2022’s 5% jump and is well above the 0%-1% annual increases seen in the pre-COVID era, Bednar tells investors in a research note. All else equal, this should boost revenue to Novocure for all U.S. glioblastoma Medicare patients, which is 25% of its U.S. patient mix. He sees the development as a "modest positive" for Novocure and keeps a Neutral rating on the shares with a $70 price target.

Published first on TheFly

See today’s best-performing stocks on TipRanks >>

Read More on NVCR:

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles