10 Undervalued European Stocks To Invest In Now

4. Novartis AG (NYSE:NVS)

Forward P/E: 13.41

Number of Hedge Fund Holders: 33

Novartis AG (NYSE:NVS) is one of the 10 Undervalued European Stocks to Invest in Now. Deutsche Bank analyst Emmanuel Papadakis maintained a Buy rating on Novartis AG (NYSE:NVS) on June 9, setting a price target of CHF115.00.

The company announced topline results from a pre-specified interim analysis of the Phase III PSMAddition trial on June 2, reporting that the trial met its primary endpoint. It demonstrated a clinically meaningful and statistically significant benefit for Pluvicto™ plus hormone therapy compared to hormone therapy alone, reflecting a positive trend in overall survival (OS).

Pluvicto™ already holds approval for metastatic castration-resistant prostate cancer (mCRPC) and has now begun to show potential in patients in an earlier disease setting. Novartis AG (NYSE:NVS) plans to submit for regulatory review in the second half of the year, depending upon FDA feedback.

Novartis AG (NYSE:NVS) holds the fourth spot on our list of the top undervalued European stocks to buy now. Headquartered in Basel, Switzerland, the company develops, markets, and manufactures a range of healthcare products. Its operations span the Innovative Medicines, Sandoz, and Corporate segments.