Zacks Investment Research upgraded shares of Novozymes A/S – (NASDAQ:NVZMY) from a hold rating to a buy rating in a report issued on Saturday morning. The brokerage currently has $48.00 target price on the stock.
According to Zacks, “Novozymes A/S is primarily engaged in the development, production, and distribution of enzymes. Its business consists of two segments, enzyme business and bio business. The Company’s enzyme business segment offers detergent enzymes that are used in laundry and dishwashing, technical enzymes used in the transformation of starch into different kinds of sugars and have application in leather, textile, and forest product industries, food enzymes used in production of bread, wine, juice, beer, noodles, alcohol, and pasta and feed enzymes used in animal feed. Its bio business segment offers microorganisms that are used in industrial and municipal wastewater treatment, as well as in the cleaning of surfaces such as carpet, concrete, drain lines, and septic tanks in industrial and household applications. It also has application in the Biopharmaceutical ingredients used in pharmaceutical industry. Novozymes A/S is headquartered in Bagsvaerd, Denmark. “
NVZMY has been the subject of a number of other research reports. Berenberg Bank started coverage on Novozymes A/S – in a report on Tuesday, September 27th. They issued a sell rating for the company. Deutsche Bank AG started coverage on Novozymes A/S – in a report on Friday, October 7th. They issued a hold rating for the company.
Novozymes A/S – (NASDAQ:NVZMY) opened at 42.59 on Friday. Novozymes A/S – has a 12 month low of $37.98 and a 12 month high of $49.55. The stock’s 50 day moving average price is $43.60 and its 200-day moving average price is $46.02. The stock has a market cap of $12.79 billion and a PE ratio of 29.78.
About Novozymes A/S –
Novozymes A/S is a Denmark-based biotechnology company engaged in the production and sale of industrial enzymes, microorganisms and biopharmaceutical ingredients. In June 2013, the Company restructured its sales areas within those segments. The Household Care (old Household Care Enzymes) area comprises cleaning solutions, laundry, dishwashing and microorganism sales for cleaning solutions.
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