11 Best Drug Stocks to Buy According to Hedge Funds

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

Number of Hedge Fund Holders: 60

Novo Nordisk A/S (NYSE:NVO) is one of the 11 Best Drug Stocks to Buy According to Hedge Funds. Bernstein analyst Florent Cespedes maintained a Hold rating on Novo Nordisk A/S (NYSE:NVO) on June 12 and set a price target of DKK620.00. The rating follows the company’s announcement on June 10 that it will release new data from its metabolic and cardiovascular health portfolio at the upcoming American Diabetes Association (ADA) 85th Scientific Sessions taking place in Chicago between 20th and 23rd June.

The presentation will include trials on the weight loss efficacy of higher dose Wegovy® in people with obesity and those with obesity and type 2 diabetes. The data will also provide further evidence of semaglutide’s broader cardiovascular and kidney health benefits for individuals with type 2 diabetes.

The analyst is thus maintaining a cautious stance on the stock. Novo Nordisk A/S (NYSE:NVO) is a global healthcare company that develops, discovers, manufactures, and markets pharmaceutical products. It specializes in diabetes care, with operations divided into the biopharmaceuticals and diabetes and obesity care segments.

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