BMO Capital Reiterates Outperform Rating on Novo Nordisk (NVO) following latest Ozempic approval

BMO Capital analyst Evan Seigerman reiterated an Outperform rating and $105.00 price target on Novo Nordisk (NYSE: NVO) after the FDA approves Ozempic as the only GLP-1 RA to reduce the risk of worsening kidney disease and cardiovascular death in adults with type 2 diabetes and CKD

The analyst commented, "FDA indicated that Ozempic has been approved for CKD patients with T2D in order to reduce the risk of CKD worsening, kidney failure, or CV death. Such an approval takes another step in expanding the list of secondary indications that GLP-1 use benefits in T2D patients. While positive, we expect many CKD patients with T2D were already being treated through the primary T2D indication (already approved and covered for many patients). Incremental indication expansion in obesity related conditions are likely to drive more upside in the future."

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 $87.51 yesterday.

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