Novo Nordisk price target raised to $160 from $125 at Argus

Argus analyst Jasper Hellweg raised the firm’s price target on Novo Nordisk to $160 from $125 and keeps a Buy rating on the shares. The company has a robust new product pipeline that includes Phase 3 candidates such as new formulations of its blockbuster GLP-1 treatment, semaglutide, for diabetes and obesity, combination obesity therapies that include semaglutide, and new semaglutide indications for Alzheimer’s disease and metabolic dysfunction-associated steatohepatitis, or MASH, the analyst tells investors in a research note. Novo Nordisk’s balance sheet is also clean while its management has a history of growing the dividend and buying back stock, the firm added.