Novo Nordisk Recieves an Upgrade From DBS, Price Cut From TD Cowen

Novo Nordisk A/S (NYSE:NVO) is one of the stocks on Jim Cramer’s and analysts’ radar. On August 22, DBS Bank analyst Nico Chen upgraded NVO shares to Hold from Sell and set a price target of DKK 340. In addition to that, on August 19, TD Cowen analyst Michael Nedelcovych reduced the price target on NVO to $70 from $105 while maintaining a Buy rating. Following a meeting with management, the firm noted headwinds affecting the current GLP-1 portfolio. Management indicated that guidance now accounts for downside scenarios and stated the company does not intend to compete aggressively on price. They also highlighted the potential of the oral semaglutide obesity program, which may benefit from an expanded cash-pay option.

Novo Nordisk A/S (NYSE:NVO) develops, manufactures, and distributes pharmaceutical products focused on diabetes, obesity, cardiovascular conditions, and rare diseases. The company also provides delivery devices and digital tools to support treatment, including smart insulin pens and dosing applications. It bears mentioning that, in response to a caller’s question about the company during the August 14 episode, Cramer said:

“They’re very poorly run. I don’t know this new CEO, but they are incredibly poorly run, and I’m not going to bet that they suddenly are going to change stripes… They take my breath away about how bad, how poorly they are.”

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