Novocure price target lowered to $130 from $135 at H.C. Wainwright

H.C. Wainwright analyst Emily Bodnar lowered the firm’s price target on Novocure to $130 from $135 and keeps a Buy rating on the shares after the firm updated its model and lowered its 2023 Optune U.S. sales estimate to $542M from $558M previously. While the firm estimates slight growth for Optune in what it calls "a reset year," H.C. Wainwright believes the risk/reward "looks favorable" ahead of INNOVATE-3 top-line data expected mid-2023.