NEW YORK (TheStreet) -- Novartis AG (NVS - Get Report) shares are up 3.6% to $93.07 on Tuesday after the company announced that its unnamed investigative heart health treatment reduced patient chances of hospitalization or death from heart failure by 20%.
The company conducted the largest heart failure study ever with 8,422 patients in 47 countries participating in the double-blind Phase III study.
Side effects from the treatment were reported as minimal and the company announced that it plans to file a New Drug Application for the treatment with the FDA by the end of this year.
TheStreet Ratings team rates NOVARTIS AG as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate NOVARTIS AG (NVS) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, reasonable valuation levels, increase in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: NVS Ratings Report
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