Novo Nordisk shares overhyped? One investment bank certainly thinks they are overvalued

Novo Nordisk (NYSE:NVO)'s shares are significantly overvalued, based on analysis shared by the American bank Jefferies in a note to clients. It said that, as ever, Novo delivered its 'usual polished performance' at its capital markets day earlier this week, but added "we struggle to justify the stock uptick". Year-to-date, the shares are up by a third, while the past five years have seen the company's valuation grow by more than 400% on the back of the success of its diabetes-turned-weight loss drugs. Today ...