Novo Nordisk Board Member Christina Law Buys $0.8 Million in ADRs

Christina Law, a Novo Nordisk board member, purchased 2,350 ADRs for DKK 820,300 on August 18, as reported in a regulatory filing. Law owned 6,000 shares in Novo Nordisk at the end of last year. The transaction occurred on the New York Stock Exchange.

Christina Law, a board member of Novo Nordisk, purchased 2,350 American Depositary Receipts (ADRs) for DKK 820,300 on August 18, as reported in a regulatory filing. Law owned 6,000 shares in Novo Nordisk at the end of last year. The transaction occurred on the New York Stock Exchange [1].

In response to this news, Mizuho has maintained its Neutral rating and $5.00 price target on GoodRx Holdings Inc. (NASDAQ:GDRX), currently trading at $5.15. The rating was reiterated following the company’s new collaboration with Novo Nordisk (NYSE:NVO) to expand access to branded GLP-1 medications, Ozempic and Wegovy, at $499 per month through retail channels [2].

GoodRx's stock has seen varying reactions from analysts. Mizuho views the partnership positively, noting GoodRx's historical lack of involvement in dispensing compounded GLP-1 drugs. However, Mizuho has maintained its earnings estimates and $5.00 price target until there is greater clarity on volume capture trends for the new offering [2].

Other analysts have adjusted their ratings and price targets. BofA Securities maintained its Underperform rating on GoodRx with a $3.40 price target, acknowledging the positive aspects of the company’s new product offering. UBS adjusted its price target for GoodRx from $5.25 to $4.25, while Raymond James downgraded GoodRx from Strong Buy to Outperform, reducing its price target to $5.00 from $9.00 [2].

These developments highlight significant changes and collaborations impacting GoodRx’s market position.

References:
[1] https://www.investing.com/news/analyst-ratings/mizuho-maintains-neutral-rating-on-goodrx-stock-amid-novo-nordisk-partnership-93CH-4198235
[2] https://www.investing.com/news/analyst-ratings/mizuho-maintains-neutral-rating-on-goodrx-stock-amid-novo-nordisk-partnership-93CH-4198235