In the latest news, Novartis AG is being lauded as one of the most undervalued stocks, with strong potential for investment. The company has seen a significant rise in stock momentum and appears as a strong value stock according to many market analysts. Investors continue to show interest following a dividend increase to $3.50. However, the company's shares took a slight hit after a stock rating downgrade to 'underweight' by Morgan Stanley and a price target lowering by UBS.
Notably, Novartis recently made headwaves in the biotech market by signing a licensing agreement with PTC Therapeutics and purchasing Anthos Therapeutics in a $3.1bn deal. Nevertheless, the market seemed to focus on mediocre results from Pluvicto, although the company maintains a positive outlook.
It's worth mentioning that the Sandoz Family Foundation plans to sell CHF2.6 billion worth of Novartis shares. On the flip side, several writes ups on Novartis have encouraged the potential value in buying the dip in stocks amid slight downturns.
Looking towards the future, the company has collaborated with Schrödinger in a deal worth up to $2.5 billion. Novartis's earnings surpassed estimates for Q3, prompting an increase in sales outlook for 2024.
Novartis Stocks News Analytics from Thu, 18 Jul 2024 07:00:00 GMT to Thu, 06 Mar 2025 07:01:23 GMT - Rating 6 - Innovation 8 - Rumor -2
