Oddo BHF maintains its 'neutral' rating on Novo Nordisk shares, with a price target lowered from DKK 990 to DKK 970.

The analyst reports that yesterday's quarterly results once again surprised the markets (down 6.7% in the session), particularly with regard to the product mix.

While Ozempic and Wegovy fell short of expectations, the insulin franchise came out better than expected.

The broker also reports the Group's decision to withdraw its application to extend Wegovy's indication in heart failure. The positive results of the STEPHFpEF trial will have to be supplemented by new data. The application can therefore only be made in early 2025.

We don't see any change in short-term expectations, but this aspect added to the pressure on the share yesterday", concludes the analyst.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.