In a report released today, Sachin Jain from Bank of America Securities maintained a Hold rating on Novartis AG, with a price target of CHF111.00.
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Sachin Jain has given his Hold rating due to a combination of factors surrounding Novartis AG’s current and potential future performance. The initial data from the ianalumab studies for Sjogren’s syndrome shows statistically significant benefits, but the improvements in symptom measures are not as substantial as some experts anticipated. This has led to a cautious outlook, as the detailed symptom data is still awaited to make a more comprehensive assessment.
Additionally, while Novartis has expressed confidence in ianalumab’s potential to generate multi-billion dollar sales across various indications, the current consensus is more conservative. The company’s pipeline, including other promising products, could bolster mid-term growth, but uncertainties remain. The upcoming events, such as potential EBIT guidance raises and strategic updates, could influence future evaluations, but for now, the Hold rating reflects a balanced view of risks and opportunities.
In another report released today, Jefferies also maintained a Hold rating on the stock with a CHF110.00 price target.