PiperJaffray Initiates Coverage on Novo Nordisk A/S (ADR) to Neutral

PiperJaffray Initiates Coverage on Novo Nordisk A/S (ADR)(NYSE:NVO). The shares have been rated Neutral. The rating by PiperJaffray was issued on Sep 23, 2016.

In a different note, On Sep 14, 2016, Exane BNP Paribas said it Upgrades its rating on Novo Nordisk A/S (ADR). The shares have been rated ‘Outperform’ by the firm. On Sep 12, 2016, Deutsche Bank said it Upgrades its rating on Novo Nordisk A/S (ADR). The shares have been rated ‘Buy’ by the firm. On Sep 9, 2016, JP Morgan said it Downgrades its rating on Novo Nordisk A/S (ADR). The shares have been rated ‘Neutral’ by the firm. On Aug 31, 2016, HSBC said it Upgrades its rating on Novo Nordisk A/S (ADR). The shares have been rated ‘Hold’ by the firm. On Aug 8, 2016, Bank of America said it Downgrades its rating on Novo Nordisk A/S (ADR). The shares have been rated ‘Neutral’ by the firm.

Novo Nordisk A/S (ADR) (NVO) shares turned negative on Tuesdays trading session with the shares closing down -0.58 points or -1.31% at a volume of 31,49,186. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $43.93. The peak price level was also seen at $43.93 while the days lowest was $43.35. Finally the shares closed at $43.85. The 52-week high of the shares is $59 while the 52-week low is $43.35. According to the latest information available, the market cap of the company is $114,010 M.

Novo Nordisk A/S (ADR)(NVO) last announced its earnings results on Aug 5, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $4.17B. Analysts had an estimated revenue of $4.24B. Earnings per share were $0.59. Analysts had estimated an EPS of $0.58.

Novo Nordisk A/S is a healthcare company. The Company is engaged in the discovery development manufacturing and marketing of pharmaceutical products. It has a range of diabetes product portfolio including a portfolio of modern insulins as well as a human once-daily GLP-1 analog. It operates in two segments: diabetes care and biopharmaceuticals. The Company’s diabetes care segment covers insulins GLP-1 other protein-related products (such as glucagon protein-related delivery systems and needles) oral anti-diabetic drugs and obesity. Its biopharmaceuticals segment covers the therapy areas of haemophilia care growth hormone therapy and hormone replacement therapy. The primary production facilities owned by the Company are located at a number of sites in Denmark and internationally in the United States France China and Brazil.

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