Wells Fargo analyst Lawrence Biegelsen raised his price target for Novocure to $85 from $75 as part of his broader Medical Technology industry research note, citing an updated DCF analysis of the base business and pipeline opportunities. Biegelsen says his updated analysis assumes 50%-70% probability of success on the current Phase 3 pipeline plus risk-adjusted assumptions for the pipeline in OUS markets. At current valuation, the analyst believes the stock is already discounting some of the late-stage pipeline and fairly valued based on the risk/reward of the R&D pipeline.