Long Position on NVO @ $59.50 on 3/10/2020 (Fundamentals)

Novo Nordisk A/S (NVO) engages in the research, development, manufacture, and marketing of pharmaceutical products worldwide.

It operates in two segments, Diabetes and Obesity care, and Biopharmaceuticals.

The Diabetes and Obesity care segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral antidiabetic products, obesity, and other chronic diseases. The Biopharmaceuticals segment offers products in the areas of haemophilia, growth disorders, and hormone replacement therapy.

The company has a strategic alliance with Evotec AG to discover and develop small molecule therapies to treat patients suffering from diabetes, obesity, and co-morbidities, as well as has a research collaboration with Kallyope Inc. It also has collaboration agreements with Lund University to develop stem cell-derived treatment for Parkinson's diseases; Staten Biotechnology B.V. to develop novel therapeutics for the treatment of dyslipidaemia; Medtronic plc to develop integrated digital solutions for people with diabetes; and bluebird bio, Inc. to develop in vivo genome editing treatments for genetic diseases. 

Shares of this stock have pulled back to a trendline support which runs parrel to the stock's 100-day moving average. We expect shares to find support around current level.

Entry Point: $59.50

Stop Loss: $55.00

Trading Range: $46.47 to $64.82

Target Price: $65.45

Updates

4/20/2020 9:35:26 AM

NVO closed at $64.10

Position closed on 4/20/2020 at price of $64.10 with a 7.73% gain in 41 days.

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