Novartis Receives Multiple Price Target Increases from Analysts
Morgan Stanley raised its Novartis price target to $170 from $143 with an Overweight rating, while TD Cowen increased its target to $180 from $160 with a Hold rating. Morgan Stanley sees $23 billion in risk-adjusted potential from nine pipeline assets, with additional upside in success scenarios.
Novartis has received price target increases from multiple financial analysts, with Morgan Stanley raising its target to $170 from $143 and TD Cowen increasing its target to $180 from $160. Morgan Stanley maintains an Overweight rating on the shares, while TD Cowen keeps a Hold rating.
Morgan Stanley came away from its deep dive into nine pipeline assets seeing $23 billion of risk-adjusted potential and an additional $13 billion upside in a 100% success scenario. While acknowledging risks, the firm believes that "the risk/reward remains to the upside, in particular on remibrutinib."
TD Cowen noted that Vanrafia showed clinically meaningful difference in eGFR change from baseline, but missed statistical significance, though the company is confident results support full approval.