Monte Financial Group LLC has increased its shareholdings in
Novartis AG (NYSE:NVS). The pharmaceutical company continues to show strong growth as a top value stock for long-term investment, despite disappointing sales of its biggest moneymaker. This growth is further emphasized, with
Janney Montgomery Scott LLC purchasing an additional 4,624 shares, a licensing agreement with
PTC Therapeutics, and several experts speculating that the stock is undervalued. However, Novartis has experienced a slump in recent weeks, with a 9.72% drop within a month. Despite beating Q2 estimates, there seems to be market focus on disappointing performance of Pluvicto, a key product, causing stock prices to dip. Nevertheless, strategic moves like a $2.9 billion deal, prompted a boost in the
Biotech sector sending the stock soaring by 14%. Despite a market downturn, research forecasts still indicate stronger earnings for Novartis. However, an $800 million write-down witnessed a dip in the stock. Through all these, Novartis remains a highly profitable pharmaceutical stock, boosting its mid-term guidance from 6% sales CAGR 2023-2028. The company's gene therapy for treating SMA shows great promise, and investors are urged to keep a keen eye on this stock.
Novartis Stocks News Analytics from Tue, 23 Apr 2024 07:00:00 GMT to Sat, 25 Jan 2025 13:57:02 GMT -
Rating 2
- Innovation 2
- Information 7
- Rumor 1
