BMO Capital analyst Evan Seigerman maintained a Hold rating on Novo Nordisk today and set a price target of $50.00.
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Evan Seigerman’s rating is based on several factors impacting Novo Nordisk’s current market position and future prospects. The company recently adjusted its revenue growth guidance for 2025, which has raised concerns among investors. This adjustment reflects ongoing challenges, such as the impact of compounded semaglutide products and slower-than-expected sales growth, despite potential boosts from exclusivity arrangements and direct-to-consumer strategies.
Additionally, the recent appointment of Mike Doustdar as CEO introduces uncertainty, as his strategic plans for the company are still in development. While he has the board’s support to implement new strategies, his approach remains undefined at this early stage. Furthermore, competitive pressures from peers like Lilly, with their products Mounjaro and Zepbound, are expected to continue affecting Novo Nordisk’s market share in the cardiometabolic sector. These factors contribute to the Hold rating, as the company’s ability to regain competitive strength remains uncertain.
Seigerman covers the Healthcare sector, focusing on stocks such as Bristol-Myers Squibb, Vertex Pharmaceuticals, and Eli Lilly & Co. According to TipRanks, Seigerman has an average return of 2.7% and a 44.60% success rate on recommended stocks.
In another report released yesterday, Exane BNP Paribas also upgraded the stock to a Hold with a $54.00 price target.