Novocure price target lowered to $34 from $42 at Piper Sandler

Piper Sandler lowered the firm’s price target on Novocure (NVCR) to $34 from $42 and keeps an Overweight rating on the shares ahead of quarterly results. The firm notes that policy and broad economic uncertainty has seemingly created opportunities for investors to do value shopping. Piper thinks an in-line quarter for GBM is on tap, particularly as performance ex-France has been fairly mediocre for several quarters running. Ramping of NSCLC – both Rx and active patients – may prove to be the bigger influencer on stock performance, and the firm believes investor skepticism on success in NSCLC makes for a positive setup heading into this week’s result.