Novo Nordisk Shares Surge on Mixed Analyst Predictions, Competition Challenges
Novo Nordisk shares have seen varied analyst predictions, with JP Morgan setting a high target of 500 Danish Kroner (around 67 Euro) for the third quarter, anticipating a 12% revenue growth in the stock market. Meanwhile, the stock has been battling strong headwinds due to growing competition in weight loss injections.
JP Morgan's optimism is reflected in their target price, which is the highest among major banks. They expect revenue to surge by 12% in the third quarter. However, Goldman Sachs and Morgan Stanley have more conservative targets at 392 DKK (around 52.50 Euro) and 300 DKK (around 40.19 Euro) respectively. Goldman Sachs analysts maintain a 'buy' recommendation, citing positive short-term prospects for Evoke studies in the Alzheimer's field.
Despite these mixed predictions, Novo Nordisk shares attempted a strong comeback on Wednesday. The stock rose by 3.4% by early afternoon, reaching 47.84 Euro.
Analysts' opinions on Novo Nordisk stock vary, with JP Morgan predicting a significant revenue boost and Goldman Sachs highlighting promising Alzheimer's studies. Despite facing stiff competition in weight loss injections, the stock demonstrated resilience with a strong recovery on Wednesday.
