Novo Nordisk AS NVO will report third-quarter earnings on Wednesday. Wall Avenue expects 88 cents in EPS and $10.49 billion in revenues when the corporate experiences after market hours.
The inventory is up 8.55% during the last yr and seven.45% year-to-date.
Let’s take a look at what the charts point out for Novo Nordisk inventory and the way the inventory maps in opposition to Wall Avenue estimates.
Novo Nordisk Inventory Chart Bearish Forward Of Q3 Earnings
Novo Nordisk’s inventory is displaying robust bearish momentum, as its value of $108.76 sits beneath its five- 20- and 50-day exponential transferring averages. This downward pattern is accompanied by persistent promoting strain, suggesting potential for continued bearish motion.
Chart created utilizing Benzinga Professional
With an eight-day easy transferring common (SMA) of $111.67, a 20-day SMA of $115.16 and a 50-day SMA of $123.13 — all above the present value — technical indicators level to a bearish sign for NVO inventory.
Moreover, the 200-day SMA at $128.29 additional underscores the bearish outlook.
The Transferring Common Convergence Divergence (MACD) indicator at a unfavorable 3.44 alerts draw back momentum, whereas a Relative Energy Index (RSI) of 25.06 signifies oversold situations, hinting that NVO inventory could face additional declines with out substantial help or a shift in shopping for curiosity.
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New Partnership For Longer-Performing GLP-1 Medication
In a major transfer to broaden its portfolio, Novo Nordisk has entered right into a $285 million settlement with Denmark-based Ascendis Pharma AS ASND. This partnership grants Novo unique worldwide rights to Ascendis’ TransCon know-how, aiming to develop once-monthly GLP-1 receptor agonists for Kind 2 diabetes and weight problems — a step up from its weekly GLP-1 medication.
The alliance additionally covers cardiovascular ailments, with Novo retaining the choice to develop future metabolic remedies into further therapeutic areas. Ascendis will lead early-stage improvement, whereas Novo handles the regulatory, manufacturing, and business phases.
The lead program within the partnership is a once-monthly GLP-1 drug, a possible game-changer for sufferers with metabolic issues. Novo’s latest medical research underscore the broader well being impression of its GLP-1 remedies, displaying decreased hospital admissions for coronary heart illness in chubby sufferers, boosting investor confidence within the potential cardiovascular purposes of the brand new drug.
Novo Nordisk Analysts See 46% Upside
The consensus analyst score on Novo Nordisk inventory stands at a Purchase with a value goal of $123.86. The newest analyst rankings for Novo Nordisk inventory from BMO Capital and Cantor Fitzgerald give a mean value goal of $158.67, suggesting 45.78% upside potential.
As Novo Nordisk readies to share its third-quarter efficiency, the twin narratives of bearish technicals and bullish analyst rankings, mixed with a groundbreaking new partnership, make the upcoming earnings name a extremely anticipated occasion.
Value Motion: Novo Nordisk inventory closed the buying and selling day Monday at $109.72, down 1.98%.
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