TD Cowen Keeps Buy on Novo Nordisk (NVO)


Novo Nordisk A/S (NYSE:NVO) is one of the 11 Best Foreign Stocks to Buy According to Hedge Funds. On June 18, TD Cowen maintained its “Buy” rating on Novo Nordisk A/S (NYSE:NVO) with a price target of $105. This decision came after meetings with the company’s senior leaders in Copenhagen, Denmark.

The research firm pointed out that management feels “encouraged” by volumes of Wegovy, Novo Nordisk’s (NYSE:NVO) weight loss drug, through the NovoCare program that helps patients get access to medications.

TD Cowen Keeps Buy on Novo Nordisk (NVO)
TD Cowen Keeps Buy on Novo Nordisk (NVO)

An elderly couple receiving insulin from a pharmacist, representing healthcare company’s successful pharmaceutical products.

TD Cowen analysts also suggested that the REDEFINE 1 trial might have had some issues because it included a high proportion of male participants and had a short duration. Novo Nordisk A/S (NYSE:NVO) is addressing these concerns in its new Phase III trials for CagriSema.

The firm noted that Novo Nordisk A/S (NYSE:NVO) is fully committed to developing Cagrilintide monotherapy. Additionally, the EVOKE trials for Alzheimer’s disease now include time-to-progression endpoints.

Novo Nordisk A/S (NYSE:NVO) is a Danish multinational pharmaceutical company that has leading positions in diabetes care, obesity care, haemophilia care, and therapies for rare endocrine disorders.

While we acknowledge the potential of NVO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 10 Best American Semiconductor Stocks to Buy Now and 11 Best Fintech Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.

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