Wall Street is positive on Novo Nordisk A/S (NVO). On average, analysts give the stock a Buy rating. The average price target is $62.7, which means analysts expect the stock to rise by 12.14% over the next twelve months.
That rating is better than 41% of stocks based on data compiled by InvestorsObserver.
Click Here to get the full report on Novo Nordisk A/S (NVO) Stock.
Why are Analyst Ratings Important?
Analysts know the inner workings of the companies they follow better than anyone but the companies’ management. You can learn a lot about a company from studying the financial statements, but analysts ask questions on conference calls and understand the intricacies of each of the businesses they cover. Analysts understand how bad weather in one part of the world can disrupt supply chains, or disrupt shopping patterns. This lets traders make decisions before a quarterly report that could be worse than expected.
InvestorsObserver aggregates the ratings of all the analysts covering a given stock, takes the average of those ratings and then percentile ranks the averages. That provides a level of granularity that is significantly better than just the three levels provided by traditional buy/hold/sell ratings.
What's Happening With Novo Nordisk A/S Stock Today?
Novo Nordisk A/S (NVO) stock is trading at $55.91 as of 10:37 AM on Monday, Nov 25, a rise of $1.45, or 2.66% from the previous closing price of $54.46. The stock has traded between $55.66 and $56.12 so far today. Volume today is light. So far 530,810 shares have traded compared to average volume of 1,460,383 shares.
