Weight-Loss Giant Novo Nordisk Tumbles To 200-Day Average Support: 'Weakness Could Be Buying Opportunity,' Analyst Says
Portfolio Pulse from Piero Cingari
Novo Nordisk A/S (NYSE:NVO) shares fell over 6% after reporting Q2 2024 sales and EPS that missed analyst expectations. Despite shortfalls in Ozempic and Wegovy sales, Goldman Sachs maintains a positive outlook, suggesting current weakness could be a buying opportunity.
August 07, 2024 | 3:59 pm
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Novo Nordisk shares fell over 6% after Q2 2024 sales and EPS missed expectations. Despite shortfalls in Ozempic and Wegovy sales, Goldman Sachs maintains a positive outlook, suggesting current weakness could be a buying opportunity.
The immediate market reaction to the earnings miss has been negative, causing a significant drop in share price. However, Goldman Sachs' positive outlook and the potential for supply improvements in the obesity portfolio suggest that the current weakness could be a buying opportunity.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100