Bank of America said a pelacarsen Phase 3 miss could result in low-single-digit percentage downside to its net-present-value assessment of Novartis (NYSE: NVS), according to a market summary attributed to the research firm. The underlying company announcement and trial results were not available for independent verification.
The summary said Novartis reported that pelacarsen did not meet HORIZON’s primary objective of lowering cardiovascular events. It did not provide details on the trial data, including the magnitude of the result, safety findings, participant population, or statistical analysis.
Pelacarsen Phase 3 Miss Puts Upcoming Results in Focus
BofA said investor attention may now shift to four Novartis Phase 3 trial readouts expected in the second half. The supplied material did not identify those programs, their expected timing, or the potential implications for Novartis’s development pipeline.
The firm maintained its Buy rating on Novartis shares and kept a $185 price target. Those views are BofA’s analyst assessment rather than confirmed company guidance or a verified measure of the financial impact from the pelacarsen Phase 3 miss.
Novartis has not been independently confirmed through primary company materials in the supplied information as having released the HORIZON findings. Any assessment of the study’s clinical or commercial significance will depend on fuller trial disclosure and the company’s subsequent communications.
