
Novo Nordisk: Oddo BHF cuts TP
(CercleFinance.com) - Oddo BHF maintains its 'neutral' rating on Novo Nordisk shares, with a target price trimmed from 990 DKK to 970 DKK.
The analyst reports that yesterday's quarterly results once again surprised the markets (down 6.7% in the session), particularly regarding the product mix.
While Ozempic and Wegovy fell short of expectations, the insulin franchise came out better than expected.
The broker also reports the Group's decision to withdraw its application to extend Wegovy's indication in heart failure. The positive results of the STEPHFpEF trial will have to be supplemented by new data. The application can therefore only be made in early 2025.
We don't see any change in short-term expectations, but this aspect added to the pressure on the share yesterday, the analyst concludes.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
The analyst reports that yesterday's quarterly results once again surprised the markets (down 6.7% in the session), particularly regarding the product mix.
While Ozempic and Wegovy fell short of expectations, the insulin franchise came out better than expected.
The broker also reports the Group's decision to withdraw its application to extend Wegovy's indication in heart failure. The positive results of the STEPHFpEF trial will have to be supplemented by new data. The application can therefore only be made in early 2025.
We don't see any change in short-term expectations, but this aspect added to the pressure on the share yesterday, the analyst concludes.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.