Barclays Reiterates an 'Underweight' on Novo Nordisk (NVO); Shares Trading As If Not Risk Priced In

June 22, 2012 3:34 PM EDT
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Price: $35.48 -0.14%

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Barclays reiterates an 'Underweight' on Novo Nordisk (NYSE: NVO).

Analyst, Brian Bourdot, said, "Novo Nordisk stock seems priced for flawless launch and growth of its new insulin degludec (Tresiba) for diabetes. We see near-term uncertainties in the form of physician unfamiliarity and a strong defence from Sanofi (NYSE: SNY). We see long-term risks from Lilly's (NYSE: LLY) LY2605541 and potentially other competitors, as well as a tougher pricing environment. We do not see these risks reflected in Novo's multiple of 20x 2013 earnings and reiterate our rating."

For an analyst ratings summary and ratings history on Novo Nordisk click here. For more ratings news on Novo Nordisk click here.

Shares of Novo Nordisk closed at $138.07 yesterday.

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