Novartis AG, CH0012005267

Novartis stock falls on trial setbacks as Berenberg cuts price target

Published on 09/11/2026 at 15:26 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Novartis stock has shed about 11 percent this week after late-stage trial failures, with investors reassessing the group’s acquisition strategy as of September 11, 2026. Berenberg cut its Novartis price target to 105 CHF from 120 CHF while maintaining a Hold rating on the same date.

Forscherin in weißem Kittel pipettiert in Reagenzglas im sterilen Pharmalabor — Novartis AG CH0012005267 – Forscherin pipettiert präzise in steriler Pharmalaborumgebung mit Reagenzgläsern, Illustration mit AI erstellt.

Novartis AG stock (ISIN CH0012005267) is trading under pressure after late-stage trial setbacks wiped out roughly 11 percent of its value this week and erased year-to-date gains, prompting investors to reassess the Swiss group’s acquisition-driven pipeline as of September 11, 2026.

Trial failures trigger sharp value loss

According to Reuters on September 11, 2026, Novartis shares slumped 11 percent in one trading day this week, wiping nearly USD 30 billion off the company’s market value and reversing all gains made since the start of the year.

Reuters reports that the latest setback came when muscle-wasting disorder drug del-desiran, acquired via the USD 12 billion purchase of Avidity Biosciences, failed in a late-stage study, marking the second major trial setback in days and intensifying scrutiny of Novartis’s M&A strategy.

Analyst reaction: Berenberg trims target

As of September 11, 2026, analyst house Berenberg has reacted to the pipeline disappointments by lowering its Novartis price target to 105 CHF from 120 CHF while keeping a neutral Hold recommendation, according to Zonebourse.

The same Zonebourse overview highlights that Novartis carries an average analyst target price of USD 154.17 against a last recorded close of USD 138.20 for its New York-listed shares, implying an upside of around 11.56 percent versus that average target.

Valuation and dividend metrics in focus

On September 11, 2026, valuation metrics are in sharp focus as investors weigh the recent share price fall against longer-term fundamentals. According to GuruFocus, Novartis’s New York–listed shares recently traded at USD 137.48, about 5.3 percent above an intrinsic value estimate of USD 130.58 based on the GF Value metric.

The same analysis from GuruFocus notes that Novartis offers a dividend yield of 3.44 percent with a payout ratio of 71 percent and a three-year dividend growth rate of 0.4 percent, suggesting a relatively sustainable but slow-growing income stream.

Primary listing and recent price performance

Novartis’s primary listing is on the SIX Swiss Exchange under the ticker NOVN. Per data from Morningstar, the stock closed at CHF 111.66 on September 10, 2026, and was quoted at CHF 112.14, up 0.43 percent, at 3:30:45 p.m. local time on the same trading day.

In addition, a real-time estimate on Cboe Europe cited by Zonebourse on September 11, 2026, showed Novartis at CHF 113.11, a 0.86 percent gain on the day, though still around 12.52 percent below its level at the start of the year.

Market reaction and investor perspective

Commentary from Reuters Breakingviews on September 11, 2026, emphasizes that Novartis’s stock had been up around 20 percent year-to-date before this week’s slide but fell about 10 percent after the failure of the del-desiran study and earlier disappointing results from heart drug pelacarsen.

The sharp swing in market value described by Reuters has turned investor attention squarely to how effectively Novartis’s past acquisitions translate into sustainable growth, with some shareholders questioning whether recent deals have added risk without delivering the expected pipeline strength.

Stock level as of the latest close

As of September 10, 2026, Novartis stock on the SIX Swiss Exchange closed at CHF 111.66, and intraday data indicated a modest rebound to CHF 112.14 later that afternoon, offering investors a price point that remains well below recent peaks but above the lows of the past 52 weeks.