J.P. Morgan analyst Richard Vosser has maintained their neutral stance on NOVN stock, giving a Hold rating on February 6.
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Richard Vosser’s rating is based on the potential and challenges surrounding Novartis AG’s acquisition of Anthos Therapeutics and its lead asset, abelacimab. Whilst the acquisition is seen as a minor positive, the market potential for abelacimab appears limited. Abelacimab is undergoing several Phase III trials, with results expected in the coming years. However, the eligible patient population for abelacimab’s use is restricted to a proportion of atrial fibrillation patients who are unsuitable for oral anticoagulation.
Additionally, competition from other treatments, such as milvexian, could further limit abelacimab’s market penetration. The anticoagulation market is substantial, but the expected peak sales for abelacimab are modest compared to its potential market size. Consequently, these factors contribute to the Hold rating, reflecting the uncertainty and limited upside potential in the near term.
In another report released on February 6, Goldman Sachs also maintained a Hold rating on the stock with a CHF98.00 price target.