NEW YORK (TheStreet) -- Novo Nordisk A/S (NVO) - Get Report shares are up 7.76% to $53.69 on heavy volume in trading today after the Danish drug company announced that will refile for U.S. regulatory approval of its insulin Tresiba after early analysis of the drug's cardiovascular effects.

The treatment was previously rejected by the Food and Drug Administration in 2013 because of concerns that it increased the risk of heart complications. The company is expected to resubmit its application sometime within the next month though the heart study is not expected to be completed until 2016, according to Bloomberg.

Tresiba is currently already approved for sale in other countries like the U.K., Sweden and Denmark though entry into the world's largest market would boost sales greatly. A rival treatment from Sanofi (SNY) - Get Report generated $6.91 billion in sales last year.

TheStreet Ratings team rates NOVO NORDISK A/S as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate NOVO NORDISK A/S (NVO) 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 notable return on equity, expanding profit margins, increase in stock price during the past year and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows weak operating cash flow."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• You can view the full analysis from the report here: NVO Ratings Report

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