Thibault Boutherin, an analyst from Morgan Stanley, maintained the Hold rating on Novo Nordisk (NVO – Research Report). The associated price target is $99.00.
Thibault Boutherin has given his Hold rating due to a combination of factors related to Novo Nordisk’s recent clinical trial results. The REDEFINE-2 trial data for CagriSema showed weight loss results that were comparable to those of existing treatments like tirzepatide, rather than exceeding them. This outcome removes the potential for an upside surprise that some investors were anticipating, as there was hope that the amylin mechanism could offer superior results in overcoming weight loss resistance in diabetes patients.
Additionally, the safety profile of CagriSema was found to be in line with existing treatments, with similar discontinuation rates. The flexible dosing regimen did not lead to significantly different outcomes, which maintains the current competitive landscape rather than advancing it. Given these factors, along with uncertainties in the U.S. obesity market and a challenging path for future catalysts, Boutherin’s Hold rating reflects a cautious stance on the stock’s short-term prospects.
Boutherin covers the Healthcare sector, focusing on stocks such as Sandoz Group Ltd, Novo Nordisk, and Alvotech. According to TipRanks, Boutherin has an average return of 1.3% and a 41.30% success rate on recommended stocks.