Latest news with #ParvusAssetManagement
Yahoo
11-06-2025
- Business
- Yahoo
NVO Stock Gains After Parvus Asset Management Builds Stake
Shares of Novo Nordisk NVO gained 5% on June 10, following a report that activist hedge fund Parvus Asset Management is building a stake in the company. Per the Financial Times, this London-based hedge fund, Parvus Asset Management, is raising its stake in NVO to influence the appointment of the company's new chief executive officer (CEO). Last month, shares of the company dipped after it announced that CEO Lars Fruergaard Jørgensen would step down from his position following a mutual agreement with the company's board. Parvus Asset Management did not reveal its exact stake in NVO and is not required to do so if it owns less than 5% of the company, as per Danish securities rules. While Jørgensen's tenure was quite successful with NVO becoming one of the top players in the obesity market, recent market challenges and a decline in the company's share price since mid-2024 prompted the Novo Nordisk Foundation Board to initiate discussions around a change in leadership. Consequently, Novo Nordisk's board and Jørgensen mutually agreed that a leadership transition would be in the best interest of the company and its shareholders. Year to date, Novo Nordisk's shares have lost 6.7% against the industry's growth of 3.1%. Image Source: Zacks Investment Research Novo Nordisk's semaglutide, a GLP-1 agonist, medicines gained significant traction, capturing a dominant share of the market. Among the most notable products are Ozempic injection and Rybelsus oral pill for type 2 diabetes (T2D), and Wegovy, an injection for weight management. Ozempic is also indicated for treating chronic kidney disease and Wegovy received FDA approval last year to reduce the risk of heart disease. NVO announced that it will present data from the STEP UP trial on a higher dose of Wegovy (semaglutide 7.2 mg) for those in need of greater weight loss. The data will be presented at the upcoming American Diabetes Association (ADA) 85th Scientific Sessions in Chicago, set to be held during June 20-23, 2025. Management stated that the data will reinforce semaglutide's efficacy in both a clinical and real-world setting, including cardiometabolic and kidney health benefits for those with obesity and diabetes. Novo Nordisk will also present full results from the phase III REDEFINE 1 and 2 studies on CagriSema. CagriSema, a fixed-dose combination of a long-acting amylin analogue and Wegovy, is the most advanced candidate in Novo Nordisk's obesity pipeline. Management stated that the REDEFINE 1 and 2 studies will provide insights into the transformational potential of CagriSema. NVO will also present data on pipeline candidate amycretin, demonstrating its commitment to obesity innovation and individualized healthcare solutions. Shares likely gained on June 10 due to investors' optimism about the upcoming presentations. The recent market challenges have resulted in a decline in NVO's share price. Stiff competition in the obesity market from its arch-rival, Eli Lilly LLY, and pipeline and regulatory setbacks weigh on the share price. NVO's semaglutide drugs have only been off the FDA's supply shortage list since February 2025. Lilly markets its tirzepatide injections, Mounjaro for T2D, and Zepbound for obesity. It has achieved stupendous success for its obesity drugs. Novo Nordisk A/S price-consensus-eps-surprise-chart | Novo Nordisk A/S Quote To tackle the increasing competitive pressure in the industry and diversify from its injectable GLP-1 products, including Wegovy and Ozempic, NVO is rapidly developing new obesity treatments to retain its edge, especially in the lucrative U.S. market. The FDA accepted Novo Nordisk's regulatory application, seeking the approval of oral semaglutide 25 mg for obesity, for review. A final decision from the regulatory body is expected around the turn of the year. Novo Nordisk currently carries a Zacks Rank #3 (Hold). A couple of better-ranked large-cap pharma stocks are Novartis NVS and Bayer BAYRY, both carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. The Zacks Consensus Estimate Novartis' 2025 earnings per share (EPS) has risen from $8.46 to $8.74 over the past 60 days. EPS estimates for 2026 have jumped 35 cents to $9.02 during this timeframe. The stock has risen 24.7% so far this year. BAYRY's 2025 EPS estimate has increased from $1.19 to $1.25 for 2025 over the past 60 days, while that for 2026 has gone up from $1.28 to $1.31 over the same timeframe. Year to date, shares of Bayer have surged 56.7%. BAYRY's earnings beat estimates in one of the trailing four quarters, matched twice and missed on the remaining occasion, the average negative surprise being 13.91%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Novartis AG (NVS) : Free Stock Analysis Report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Eli Lilly and Company (LLY) : Free Stock Analysis Report Bayer Aktiengesellschaft (BAYRY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Globe and Mail
11-06-2025
- Business
- Globe and Mail
NVO Stock Gains After Parvus Asset Management Builds Stake
Shares of Novo Nordisk NVO gained 5% on June 10, following a report that activist hedge fund Parvus Asset Management is building a stake in the company. Per the Financial Times, this London-based hedge fund, Parvus Asset Management, is raising its stake in NVO to influence the appointment of the company's new chief executive officer (CEO). Last month, shares of the company dipped after it announced that CEO Lars Fruergaard Jørgensen would step down from his position following a mutual agreement with the company's board. Parvus Asset Management did not reveal its exact stake in NVO and is not required to do so if it owns less than 5% of the company, as per Danish securities rules. While Jørgensen's tenure was quite successful with NVO becoming one of the top players in the obesity market, recent market challenges and a decline in the company's share price since mid-2024 prompted the Novo Nordisk Foundation Board to initiate discussions around a change in leadership. Consequently, Novo Nordisk's board and Jørgensen mutually agreed that a leadership transition would be in the best interest of the company and its shareholders. Year to date, Novo Nordisk's shares have lost 6.7% against the industry 's growth of 3.1%. NVO to Post New Semaglutide and CagriSema Results Novo Nordisk's semaglutide, a GLP-1 agonist, medicines gained significant traction, capturing a dominant share of the market. Among the most notable products are Ozempic injection and Rybelsus oral pill for type 2 diabetes (T2D), and Wegovy, an injection for weight management. Ozempic is also indicated for treating chronic kidney disease and Wegovy received FDA approval last year to reduce the risk of heart disease. NVO announced that it will present data from the STEP UP trial on a higher dose of Wegovy (semaglutide 7.2 mg) for those in need of greater weight loss. The data will be presented at the upcoming American Diabetes Association (ADA) 85th Scientific Sessions in Chicago, set to be held during June 20-23, 2025. Management stated that the data will reinforce semaglutide's efficacy in both a clinical and real-world setting, including cardiometabolic and kidney health benefits for those with obesity and diabetes. Novo Nordisk will also present full results from the phase III REDEFINE 1 and 2 studies on CagriSema. CagriSema, a fixed-dose combination of a long-acting amylin analogue and Wegovy, is the most advanced candidate in Novo Nordisk's obesity pipeline. Management stated that the REDEFINE 1 and 2 studies will provide insights into the transformational potential of CagriSema. NVO will also present data on pipeline candidate amycretin, demonstrating its commitment to obesity innovation and individualized healthcare solutions. Shares likely gained on June 10 due to investors' optimism about the upcoming presentations. NVO Stock Under Pressure The recent market challenges have resulted in a decline in NVO's share price. Stiff competition in the obesity market from its arch-rival, Eli Lilly LLY, and pipeline and regulatory setbacks weigh on the share price. NVO's semaglutide drugs have only been off the FDA's supply shortage list since February 2025. Lilly markets its tirzepatide injections, Mounjaro for T2D, and Zepbound for obesity. It has achieved stupendous success for its obesity drugs. To tackle the increasing competitive pressure in the industry and diversify from its injectable GLP-1 products, including Wegovy and Ozempic, NVO is rapidly developing new obesity treatments to retain its edge, especially in the lucrative U.S. market. The FDA accepted Novo Nordisk's regulatory application, seeking the approval of oral semaglutide 25 mg for obesity, for review. A final decision from the regulatory body is expected around the turn of the year. NVO Zacks Rank and Stocks to Consider Novo Nordisk currently carries a Zacks Rank #3 (Hold). A couple of better-ranked large-cap pharma stocks are Novartis NVS and Bayer BAYRY, both carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. The Zacks Consensus Estimate Novartis' 2025 earnings per share (EPS) has risen from $8.46 to $8.74 over the past 60 days. EPS estimates for 2026 have jumped 35 cents to $9.02 during this timeframe. The stock has risen 24.7% so far this year. BAYRY's 2025 EPS estimate has increased from $1.19 to $1.25 for 2025 over the past 60 days, while that for 2026 has gone up from $1.28 to $1.31 over the same timeframe. Year to date, shares of Bayer have surged 56.7%. BAYRY's earnings beat estimates in one of the trailing four quarters, matched twice and missed on the remaining occasion, the average negative surprise being 13.91%. Zacks' Research Chief Names "Stock Most Likely to Double" Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest. This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%. Free: See Our Top Stock And 4 Runners Up Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Novartis AG (NVS): Free Stock Analysis Report Novo Nordisk A/S (NVO): Free Stock Analysis Report Eli Lilly and Company (LLY): Free Stock Analysis Report Bayer Aktiengesellschaft (BAYRY): Free Stock Analysis Report
Yahoo
10-06-2025
- Business
- Yahoo
Novo Nordisk Stock Climbs on Report of Activist Investor Parvus Building Stake
Novo Nordisk stock rose on Tuesday after the Financial Times reported that an activist investor is building a stake in the Danish drugmaker. Parvus Asset Management is reportedly looking to influence the hiring of Novo Nordisk's next CEO, the FT reported. The Ozempic and Wegovy maker has faced slowing sales growth and more effective rival weight loss drugs, and it announced last month that its CEO is U.S.-listed shares of Danish drugmaker Novo Nordisk (NVO) rose Tuesday following a report that an activist investor is building a stake in the Ozempic maker. Citing sources familiar with the matter, the Financial Times reported on Monday that Parvus Asset Management has bought up shares in Novo Nordisk, and is looking to influence the hiring of the drugmaker's next CEO. The fund has not disclosed the size of its stake because it is still under 5% of Novo Nordisk's total shares, the legal threshold requiring disclosure under Danish law, the Financial Times reported. The Novo Nordisk Foundation nonprofit owns the majority of voting rights in the weight loss giant, which the FT reported could make any activist pressure campaign difficult. Novo Nordisk's U.S.-listed shares have lost nearly half their value in the last 12 months as sales growth for its landmark weight loss drugs Ozempic and Wegovy have started to slow. Studies have also shown that Eli Lilly's (LLY) rival drugs, Mounjaro and Zepbound, are more effective at weight loss along with promising data for its next-generation drugs. Last month, Novo Nordisk cut its full-year sales and profit forecasts, and just over a week later announced that CEO Lars Fruergaard Jørgensen would step away from the company once it found a successor. Novo Nordisk and Parvus did not immediately respond to Investopedia's requests for comment. Novo Nordisk's American depositary shares were up more than 5% in Tuesday morning trading. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
10-06-2025
- Business
- Bloomberg
Stock Movers: JM Smucker, McDonalds, Novo Nordisk
On this episode of Stock Movers: - JM Smucker (SJM) shares fall after the company said it expects adjusted earnings of up to $9.50 a share, reduced by $1 a share due to higher coffee costs and US tariffs. The company raised coffee prices in May and plans to do so again in August, which is expected to hurt demand this year. -McDonalds (MCD) shares drop after Redburn Atlantic downgraded the company to a sell rating, citing concerns over shifting consumer patterns due to weight-loss drugs and inflation. The analyst estimates that the use of GLP-1 drugs like Ozempic could impact McDonald's revenue by $428 million annually, and potentially up to 10% or more over time. -Novo Nordisk (NOVOB) shares rise after a report that Parvus Asset Management has built a stake in the company. Parvus is interested in influencing the appointment of a new CEO, as Novo Nordisk is set to replace its current CEO Lars Fruergaard Jorgensen.
Bloomberg
10-06-2025
- Business
- Bloomberg
Stock Movers: Diaego, UBS, Novo Nordisk (podcast)
On this episode of Stock Movers: - Diageo is considering options for its ownership of the Indian Premier League cricket franchise Royal Challengers Bengaluru, according to people familiar with the matter. - UBS shares drop as much as 7.4%, the most in two months and erasing all of Friday's gains that followed the Swiss government proposing new rules that could see the bank hold up to $26 billion in fresh capital. Vontobel analysts say it will impact the bank's competitiveness. - Activist hedge fund Parvus Asset Management is building a stake in Ozempic-maker Novo Nordisk, the Financial Times reports, citing unidentified people with knowledge of the details.
