Why Roche Stock Just Popped, but Eli Lilly and Novo Nordisk Dropped
Shares of Swiss pharmaceuticals company Roche Holding (OTC: RHHBY) soared 7% through 11:55 a.m. ET Wednesday on positive data from phase 1 clinical trials of its new weight loss drug CT-996.
But good news for Roche is bad news for the companies that now seem to have the weight-loss drug market to themselves. Shares of Eli Lilly (NYSE: LLY) were down 2.8% today, and Novo Nordisk (NYSE: NVO) lost 4%.
This morning, Roche announced results of its new GLP-1 drug trial showing patients losing an average of 7.3% of their body weight after four weeks of treatment, which it calls a "clinically meaningful weight loss." Even better for patients, the drug comes in the form of a pill taken once daily.
Source Fool.com
Roche Holding AG ADR Stock
€35.64
-1.310%
With 2 Buy predictions and 2 Sell predictions the community is currently undecided on Roche Holding AG ADR.
As a result the target price of 38 € shows a slightly positive potential of 6.63% compared to the current price of 35.64 € for Roche Holding AG ADR.
