Barclays Maintains a Hold Rating on Novo Nordisk (NVO)

Novo Nordisk A/S (NYSE:NVO) is one of the top oversold NYSE stocks to buy now. In a report released on August 4, Emily Field from Barclays maintained a Hold rating on Novo Nordisk A/S (NYSE:NVO), with a price target of DKK375.00.

Novo Nordisk A/S (NVO): "Canada's A Backdoor," Says Jim Cramer

An elderly couple receiving insulin from a pharmacist, representing healthcare company’s successful pharmaceutical products.

In other news, Novo Nordisk A/S (NYSE:NVO) announced on August 5 the filing of 14 new lawsuits against vendors selling cheaper compounded versions of its medication semaglutide, which is marketed as the blockbuster Wegovy for obesity.

The announcement came one day after the digital weight-loss company Noom’s launch of low-dose copies of semaglutide at a considerable discount to the branded product in a market that the telehealth company Hims & Hers Health dominates.

Novo Nordisk A/S’s (NYSE:NVO) U.S. head of operations, Dave Moore, stated that:

“No one should have to gamble with their health by using knockoff drugs made with ingredients that lack oversight and safety standards. We urge regulators to enforce laws designed to protect public health.”

Novo Nordisk A/S (NYSE:NVO) is a global healthcare company specializing in diabetes care. It develops, discovers, manufactures, and markets pharmaceutical products.

Its operations are divided into two business segments: biopharmaceuticals and diabetes and obesity care. The latter segment covers GLP-1, insulin, and other protein-related products.

While we acknowledge the potential of NVO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NVO and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.