[ad_1]
One of the hottest healthcare stocks right now, novo nordisk (NYSE:NVO), the market was strong on Tuesday. Investors pushed the price up by 3%, more than double the share price increase. S&P500 The index rose on the back of positive analyst movements.
Included in Argus focus list
The action came late on Monday afternoon when Argus Research Director Jim Kelleher added Novo Nordisk to his company’s focus list. It was included in the lineup along with three other brands. domino pizza, shelland capital one financial.
This is not the first positive move by analysts for the Denmark-based pharmaceutical company, but it strengthens the case for investors to buy the company. The company became famous thanks to his two medicines based on the molecule semaglutide, the diabetes drug Ozempic and, in particular, the obesity drug Wigovy.
Kelleher and his team expressed enthusiasm for Novo Nordisk’s continued success in an analyst note on new additions to the watch list. They noted that they have a “robust” pipeline, including other indications for semaglutide and exploring potential treatments for hemophilia.
But it’s not the only horse to take part in the race
There is no doubt that Novo Nordisk has strong momentum, and Ozempic/Wegoby has hot and clearly sustainable demand from the American public. It’s also clear that the company isn’t one to rest on its laurels, as evidenced by its robust pipeline.
However, while it is easy to accept the buy-to-stock argument, potential investors need to be aware that competition is increasing.American pharmaceutical powerhouse with abundant funds Eli Lilly recently won Food and Drug Administration approval for its proprietary obesity treatment Zepbound. Other biotech and pharmaceutical companies are also working to bring similar drugs to market.
Should you invest $1,000 in Novo Nordisk right now?
Before buying Novo Nordisk stock, consider the following:
of Motley Fool Stock Advisor Our analyst team has identified what they believe Best 10 stocks What investors can buy right now…and Novo Nordisk wasn’t among them. These 10 stocks have the potential to generate impressive returns over the next few years.
stock advisor We provide investors with an easy-to-understand blueprint for success, including guidance on portfolio construction, regular updates from analysts, and two new stocks every month.of stock advisor Since 2002, the service has more than tripled S&P 500 returns*.
See 10 stocks
*Stock Advisor returns as of March 11, 2024
Eric Volkman has no position in any stocks mentioned. The Motley Fool has a position in and recommends Domino’s Pizza. The Motley Fool recommends Nordisk. The Motley Fool has a disclosure policy.
Why Novo Nordisk Stock Is a Winner Today was originally published by The Motley Fool
[ad_2]
Source link
