BMO Capital lowered the firm’s price target on Novo Nordisk (NVO) to $105 from $156 but keeps an Outperform rating on the shares. The company’s anticipated CagriSema – a drug that was supposed to best – Zepbound Phase 3 data readout failed to meet investor expectations on efficacy and tolerability and cuts the company’s margin of error for execution in 2025, the analyst tells investors in a research note. BMO adds however that the downside reaction for Novo Nordisk shares was overdone.
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Read More on NVO:
- Buy the Dip on Novo Nordisk after a 20% Drop?
- Novo Nordisk upgraded to Outperform from Market Perform at Handelsbanken
- Novo Nordisk price target lowered to DKK 900 from DKK 1,050 at Barclays
- Novo Nordisk price target lowered to $105 from $155 at TD Cowen
- BMO lowers Novo Nordisk price target to $105, says reaction to data ‘overdone’