Jim Cramer Discussed The Iran Ceasefire & Commented On These 19 Stocks

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

Number of Hedge Fund Holders: 55

Novo Nordisk A/S (NYSE:NVO)’s shares are down by 40% over the past year and by 29.6% year-to-date. BMO Capital kept a Market Perform rating and a $45 share price target on the firm on March 30th. The financial firm remained optimistic about the tailwinds from Novo Nordisk A/S (NYSE:NVO)’s Wegovy weight loss pill, but added that the firm nevertheless faced industry-wide risks. On March 18th, Bernstein initiated coverage of the stock to set a $175 share price target and an Underperform rating. Bernstein commented that Novo Nordisk A/S (NYSE:NVO) was facing a “bare” catalyst path and cautioned that the firm’s weight loss drugs could struggle in the US due to lower volumes and price deflation. After the weight loss pill secured the FDA’s approval earlier this year, Cramer pointed out that it might experience hesitance from doctors who are unwilling to switch drugs for patients. In this appearance, he discussed Novo Nordisk A/S (NYSE:NVO)’s claim that its weight loss pill was better than Lilly’s product:

“Look, if you wanted a pill and you wanted to be able to take it when you want, and you don’t have to worry about taking it with the food and stuff, that’s a, Lilly’s got that going. Remember, the main thing that Lilly has got going is they’re not gonna run out, that they have spent a fortune [on manufacturing].”

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 the cheapest AI stock.

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