Today’s Stock On Watch: What’s Propelling Novo Nordisk A S (ADR) to Reach 52 Week Low?

Today's Stock On Watch: What's Propelling Novo Nordisk A S (ADR) to Reach 52 Week Low?

The stock of Novo Nordisk A S (ADR) (NYSE:NVO) hit a new 52-week low and has $31.24 target or 9.00% below today’s $34.33 share price. The 9 months bearish chart indicates high risk for the $68.74 billion company. The 1-year low was reported on Nov, 4 by Barchart.com. If the $31.24 price target is reached, the company will be worth $6.19B less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 3.37M shares traded hands. Novo Nordisk A S (ADR) (NYSE:NVO) has declined 37.70% since April 4, 2016 and is downtrending. It has underperformed by 38.79% the S&P500.

Novo Nordisk A S (ADR) (NYSE:NVO) Ratings Coverage

Out of 13 analysts covering Novo Nordisk (ADR) (NYSE:NVO), 3 rate it a “Buy”, 2 “Sell”, while 8 “Hold”. This means 23% are positive. Novo Nordisk (ADR) has been the topic of 13 analyst reports since August 28, 2015 according to StockzIntelligence Inc. The stock of Novo Nordisk A S (ADR) (NYSE:NVO) has “Hold” rating given on Friday, August 28 by Zacks. Piper Jaffray initiated Novo Nordisk A S (ADR) (NYSE:NVO) on Friday, September 23 with “Neutral” rating. The rating was upgraded by Jyske Bank to “Strong Buy” on Monday, October 19. Citigroup downgraded the stock to “Neutral” rating in Monday, October 31 report. The stock has “Equal-Weight” rating given by Morgan Stanley on Thursday, September 1. As per Friday, September 9, the company rating was downgraded by JP Morgan. As per Friday, August 28, the company rating was initiated by Leerink Swann. Goldman Sachs upgraded the stock to “Conviction Buy” rating in Monday, February 15 report. The rating was upgraded by BNP Paribas on Tuesday, September 13 to “Outperform”. The rating was downgraded by DNB Markets to “Hold” on Monday, October 31.

According to Zacks Investment Research, “Novo Nordisk is a world leader in insulin and diabetes care and also manufactures and markets a variety of other pharmaceutical products. Furthermore the company is the world’s largest producer of industrial enzyme products. The company believes that everyone must care for the environment and our natural resources.”

More news for Novo Nordisk A S (ADR) (NYSE:NVO) were recently published by: Quotes.Wsj.com, which released: “DOW JONES, A NEWS CORP COMPANY” on February 11, 2011. Investorplace.com‘s article titled: “Why American Airlines Group Inc (AAL), Novo Nordisk A/S (ADR) (NVO) and …” and published on June 14, 2016 is yet another important article.

NVO Company Profile

Novo Nordisk A/S, incorporated on November 28, 1931, is a healthcare company. The Firm is engaged in discovery, development, manufacturing and marketing of pharmaceutical products. The Company’s business divisions include diabetes and obesity care, and biopharmaceuticals. The diabetes and obesity care segment covers insulins, glucagon-like peptide-1 (GLP-1), other protein-related products (such as glucagon, protein-related delivery systems and needles), oral anti-diabetic drugs and obesity. The biopharmaceuticals segment covers the therapy areas of hemophilia care, growth hormone therapy and hormone replacement therapy.

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