BMO Capital analyst Evan Seigerman raised the firm’s price target on Novo Nordisk (NVO) to $55 from $50 and keeps a Market Perform rating on the shares ahead of its Q3 results. In Wegovy, the CVS Caremark exclusive deal tailwind continues to be offset by ongoing issues with compounded semaglutide, with numbers plateauing mid-to-late July, the analyst tells investors in a research note. BMO adds that diabetes is a more mature market for the company, with the divergence between Ozempic and Eli Lilly’s (LLY) Mounjaro in the U.S. likely to remain.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NVO:
- Cautious Hold Rating on Novo Nordisk Amid Competitive Pressures and Uncertain Growth Prospects
- Novo Nordisk update raises questions on Regeneron approval, says Canaccord
- Novo Nordisk update raises questions on Repligen approval, says Canaccord
- LFMD Lawsuit Alert! Class Action Lawsuit Against LifeMD
- Madrigal Pharmaceuticals price target raised to $590 from $500 at Oppenheimer