The defensive heavyweights Nestlé, Novartis, and Roche outperformed the Swiss Market Index over the week, while cyclical SMI components sustained notable declines. Roche and Nestlé led the weekly performance table on Friday, registering gains of 2.0 percent and 1.6 percent respectively. Novartis added 1.2 percent since Monday.
Roche's non-voting equity securities climbed to a multi-year high in late August and have held just below that threshold. On Friday, the shares traded at 357 francs. The company's year-to-date gain stands at 7.5 percent, driven by research successes and drug approvals. Zealand Pharma, a Danish partner, reported positive trial data for petrelintide in overweight individuals on Wednesday, prompting the launch of the next study phase with the Basel-based pharmaceutical firm. Additionally, the US Food and Drug Administration approved the cancer drug Tecentriq at the end of the trading week. Analyst price targets compiled by AWP range from 230 to 434.50 francs, with an average target of 375.58 francs. Ten analysts rate the stock a buy, seven maintain a neutral stance, and one issues a sell rating.
Novartis has risen 7.4 percent since the start of the year, ending the week at 118.58 francs. The shares remain below the level seen before an early September price drop, when two trial setbacks caused the stock to tumble over ten percent within a week. Novartis announced plans to present new data on multiple sclerosis treatments at a conference in late October. The weekly gain was further supported by a US regulatory approval allowing the company to market Rhapsido for additional conditions. According to AWP, 13 analysts rate Novartis neutral, six recommend buying, and two suggest selling, with price targets spanning 95 to 150 francs and a mean target of 125.04 francs.
Nestlé shares stood at 75.86 francs on Friday afternoon. The food producer has recorded a year-to-date decline of 3.5 percent, though the stock has rebounded since early October and moved away from a multi-month low. The western Switzerland-based company addressed legal developments in France, where an appeals court ordered a retrial regarding illegal plastic waste landfills; Nestlé contests the allegations. Furthermore, the group announced a multi-year marketing partnership with the National Basketball Association in North America and plans to double its investments in Mexico. AWP data show analyst price targets between 74 and 100 francs, with ten buy ratings, nine neutral assessments, and one sell rating.
Investor attention is now directed toward the upcoming quarterly results from the three heavyweights. Roche and Nestlé are scheduled to report on October 22, followed by Novartis on October 27.
