Novo Nordisk Investor Day Disappointed

Dow Jones09-22 18:39

1038 GMT - Novo Nordisk's capital markets day announcements, including the diversification plan and a vague midterm sales target, disappointed investors, AlphaValue analyst Abhishek Raval writes. "Against the backdrop of excessive dependency on a single molecule, aggressive and heavy diversification bets, along with impeccable commercial execution, are the need of the hour." However, the markets have their reservations, Raval says. The commercial success of oral Wegovy, some promising late-stage assets, and the firepower for acquisitions provide reasons to bet on Novo, which is available at a discount to peers, he adds. AlphaValue rates the Danish drugmaker's stock at buy with a 450 Danish kroner target price. Shares fall 0.2% to 259.40 kroner.

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