10 Stocks Jim Cramer Talked About

7. Novo Nordisk A/S (NYSE:NVO)

Number of Hedge Fund Holdings: 50

Pharma giant Novo Nordisk A/S (NYSE:NVO) created quite the buzz last month after its weight loss pill secured approval from the Food and Drug Administration (FDA), following which the shares jumped by more than 7%. The weight loss pill marked a key win for Novo Nordisk A/S (NYSE:NVO) as the firm has reportedly lagged behind Eli Lilly in the weight loss drug industry. After the approval, BMO Capital reiterated a Market Perform rating and a $46 share price target for the company. The financial firm outlined that Novo Nordisk A/S (NYSE:NVO) had secured a crucial win as the pill was the first treatment of its kind in the industry. It added that the pharmaceutical company could benefit from a first-mover advantage in the space. However, Cramer cautioned that doctors might be hesitant in advising patients to switch from Lilly’s weight loss drug to the pill. At the JPMorgan Healthcare Conference, the firm’s CEO commented that as many as 1.5 million users could be using compounded weight loss drugs as they were driven by cheaper weight loss treatments. Cramer was also reporting from the healthcare conference in this appearance, and he briefly commented on Novo Nordisk A/S (NYSE:NVO):

“Right, we’ve got Novo, which I think in a battle obviously with Lilly. . . .I think we have to accept Carl that the vaccine business is under fire.”