J.P. Morgan Maintains a Buy on Novo Nordisk (NVO)

Novo Nordisk A/S (NYSE:NVO) is one of the best long term low volatility stocks to buy right now. J.P. Morgan analyst Richard Vosser maintained a Buy rating on Novo Nordisk A/S (NYSE:NVO) in a report released on October 17, setting a price target of DKK500.

The rating followed Novo Nordisk’s (NYSE:NVO) announcement on October 15 that it entered into a definitive asset purchase and license agreement with Omeros Corporation for the candidate drug zaltenibart, previously known as OMS906, in clinical development for rare blood and kidney disorders.

Management reported that the terms of the agreement provide Novo Nordisk A/S (NYSE:NVO) exclusive global rights for the development and commercialization of the drug in all indications. Omeros Corporation is eligible to receive upfront and near-term milestone payments worth $340 million, up to a “total of $2.1 billion including potential development and commercial milestones, plus tiered royalties on net sales”.

Novo Nordisk A/S (NYSE:NVO) is a global healthcare company specializing in diabetes care. It develops, discovers, manufactures, and markets pharmaceutical products. Its operations are divided into two business segments: biopharmaceuticals and diabetes and obesity care. The latter segment covers GLP-1, insulin, and other protein-related products.

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