TD Cowen Reiterates Buy Rating on Novo Nordisk (NVO) Following Monlunabant Obesity Update

TD Cowen analyst Michael Nedelcovych reiterated a Buy rating and $155.00 price target on Novo Nordisk (NYSE: NVO) following the monlunabant obesity update.

The analyst commented, "In a Phase II obesity trial, CB1 blocker monlunabant showed weight loss in the ~6-7% range at 16 weeks. No serious neuropsychiatric adverse events were observed, but some mild to moderate neuropsychiatric side effects were more frequent with monlunabant. Overall, this update disappoints on both efficacy and safety. Novo sees a path forward, but potential of this early-stage asset is diminished."

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 $134.88 yesterday.

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