Novo Nordisk (NVO) PT Lowered to $40 at BMO Capital
BMO Capital analyst Evan Seigerman lowered the price target on Novo Nordisk (NYSE: NVO) to $40.00 (from $47.00) while maintaining a Market Perform rating.
The analyst commented: "Challenging 3Q25 comparator and eroding US market share are likely to temper Ozempic revenue in the quarter. As a reminder in 3Q25 Novo benefited from a DKK 2B gross-to-net benefit. A large portion of this benefit was tied to Ozempic, increasing revenue for the quarter (DKK reported revenue of 30.7B). This gross-to-net benefit is likely to exaggerate YoY declines for Ozempic in the US in 3Q26."
