Novartis, CH0012005267

Novartis stock gains as analysts weigh lower earnings

Published on 09/23/2026 at 12:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Novartis stock traded at CHF 116.78 on September 23, 2026, up 0.3 percent. Second-quarter revenue fell 2 percent year over year to CHF 11.39 billion.

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Novartis stock traded at CHF 116.78 on SIX on September 23, 2026, up 0.3 percent by 9:28 a.m. local time. The move came as investors weighed a second-quarter revenue decline and a lower earnings-per-share result against a still substantial pharmaceutical pipeline.

Second-quarter figures show pressure

Novartis AG reported second-quarter 2026 revenue of CHF 11.39 billion, down 2.00 percent from CHF 11.62 billion in the comparable quarter of 2025, according to finanzen.ch. Earnings per share fell to CHF 1.35 in the quarter ended June 30, 2026, from CHF 1.71 a year earlier, a decline of CHF 0.36 per share.

A separate market report cited quarterly revenue of CHF 14.16 billion and net profit of CHF 3.21 billion for the quarter ending June 30, 2026, compared with revenue of CHF 14.84 billion and net profit of CHF 4.04 billion in the prior-year quarter, according to The Globe and Mail. The differing revenue figures indicate that the reports use different quarterly data definitions, so the reporting period and source basis matter when comparing estimates.

Goldman keeps a cautious view

Goldman Sachs analyst James Quigley maintained a Sell rating and a CHF 110.00 price target in a report released on September 23, 2026, according to The Globe and Mail. The target is CHF 6.78 below the September 23 market price, while the reported analyst consensus stood at Hold with a CHF 124.92 target.

The immediate price picture is mixed rather than one-directional. Novartis reached CHF 116.82 during the September 23 session, while the 52-week high was CHF 132.68 on September 3, 2026, and the 52-week low was CHF 96.80 on September 25, 2025.

Stock remains below yearly high

The SIX quote was 12.00 percent below the 52-week high at the cited intraday price, calculated from CHF 116.78 and CHF 132.68. Trading volume had reached 92,140 shares by 9:28 a.m. on September 23, 2026, providing a dated measure of early-session activity.

Novartis is expected to publish its third-quarter 2026 figures on October 27, 2026, according to finanzen.ch. That date gives the market a defined checkpoint for testing whether the second-quarter revenue decline and lower EPS were temporary or part of a broader earnings trend.

CHF 110 target sets a lower marker

Novartis stock stood at CHF 116.78 on SIX as of 9:28 a.m. on September 23, 2026. The Goldman Sachs target of CHF 110.00 and the consensus target of CHF 124.92 frame the current debate around valuation and earnings delivery.