The investment bank raised its rating on the pharmaceutical company to "buy" from "hold," pointing to continued momentum in weight-loss and diabetes drugs.
Novartis' failure in reducing Lp(a) levels intensifies competition among drugmakers racing to prove lower cholesterol correlates with fewer cardiovascular events.
Shares of the Swiss pharmaceutical company dropped sharply on Tuesday after disappointing results from its del-desiran drug trial, according to a CNBC report.
Full data from late-stage studies reinforce hopes the drug could become a major treatment for chronic obstructive pulmonary disease, according to CNBC.