Novo Nordisk is trading 3.53% down at €36.89 after Morgan Stanley downgraded the company from Equal-weight to Underweight on September 11, citing subdued medium-term growth and semaglutide patent-expiry risks.
- The bank kept its 250 Danish kroner price target.
- Analysts highlighted potential generic competition and Eli Lilly’s market-share gains.
- The September 14 decline appears to extend selling pressure following that downgrade.