Novocure reinstated with Neutral from Underweight at JPMorgan

JPMorgan upgraded Novocure to Neutral from Underweight with a $15 price target after reinstating coverage of the name. After a sharp selloff year-to-date, Novocure’s valuation is supported by a base business, incremental revenue from expansion into second line lung cancer, and some risk-adjusted potential to expand into brain mets and pancreatic cancer, the analyst tells investors in a research note.