Novo Nordisk A/S (NYSE:NVO) Stock Has Average Target Price of $59.44 According to Brokerages

Key Points

• Analyst sentiment is mostly neutral: Of 26 analysts covering Novo Nordisk, 16 rate it Hold, five Sell and five Buy. Their average 12-month price target is $59.44.
• NVO traded at $41.65, within a 52-week range of $35.12–$64.16; its market capitalization was about $186 billion.
• Novo filed U.S. and European applications for experimental sickle cell treatment etavopivat, while Eli Lilly’s approval of an oral weight-loss drug in China highlights rising competition in obesity treatments.

Shares of Novo Nordisk A/S (NYSE:NVO - Get Free Report) have been assigned an average rating of "Hold" from the twenty-six analysts that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $59.44.

NVO has been the subject of a number of analyst reports. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Novo Nordisk A/S in a report on Monday, September 21st. DZ Bank restated a "neutral" rating on shares of Novo Nordisk A/S in a research report on Thursday, August 6th. UBS Group restated a "neutral" rating on shares of Novo Nordisk A/S in a research report on Monday, September 21st. Zacks Research raised Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. Finally, Cfra cut Novo Nordisk A/S from a "hold" rating to a "sell" rating and set a $38.00 target price for the company. in a report on Tuesday, September 22nd.

Trending Headlines about Novo Nordisk A/S

Investors following NVO have been watching these headlines:

• Positive Sentiment: Novo submitted U.S. and European applications for etavopivat, an investigational once-daily oral treatment for sickle cell disease in patients aged 12 and older. The filings add a potential product opportunity beyond the company’s diabetes and obesity business, but the drug is not yet approved. Novo submits etavopivat to the FDA and EMA
• Neutral Sentiment: Novo enlisted DJ Khaled to share his Wegovy experience as part of a U.S. promotional campaign. The partnership could raise awareness, though its impact on prescriptions and sales is uncertain. Novo and DJ Khaled team up to promote Wegovy
• Negative Sentiment: Eli Lilly secured China’s first approval for an oral GLP-1 weight-loss drug, giving it an early lead in a major market while Novo’s own oral product has yet to launch there. The development highlights intensifying competition in obesity treatment. Eli Lilly beats Novo to oral China GLP-1 market

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Scarborough Advisors LLC purchased a new stake in Novo Nordisk A/S in the 1st quarter worth about $26,000. Financial Freedom LLC purchased a new position in shares of Novo Nordisk A/S during the third quarter valued at approximately $30,000. Root Financial Partners LLC purchased a new position in shares of Novo Nordisk A/S during the third quarter valued at approximately $32,000. Continuum Advisory LLC purchased a new position in shares of Novo Nordisk A/S during the second quarter valued at approximately $38,000. Finally, Latitude Advisors LLC bought a new position in shares of Novo Nordisk A/S during the third quarter valued at approximately $38,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO traded up $1.00 during midday trading on Friday, reaching $41.65. 11,697,709 shares of the stock traded hands, compared to its average volume of 11,352,963. Novo Nordisk A/S has a one year low of $35.12 and a one year high of $64.16. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.84 and a quick ratio of 0.64. The company's 50 day moving average is $40.09 and its 200 day moving average is $43.34. The stock has a market capitalization of $185.99 billion, a PE ratio of 10.49, a P/E/G ratio of 1.40 and a beta of 0.70.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Danish pharmaceutical company focused on treatments for diabetes, obesity and other serious chronic diseases. Its portfolio includes insulin and other diabetes medicines, as well as obesity treatments such as Wegovy and diabetes treatments such as Ozempic and Rybelsus. The company also develops medicines for rare blood and endocrine disorders, including hemophilia and growth disorders. Its products are sold in markets around the world. Novo Nordisk traces its roots to Danish insulin companies founded in the 1920s; the two organizations that became Novo Nordisk merged in 1989.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.