It's only going down if the broader market goes down - it will not buck the trend of the global financial flow. But if things stabilize and show a positive trend, NVS will ride the wave back to where analysts think it should be....61 - 65. Do you really think the hedge funds and large investors look at the crappy low level management? Layoffs are seen as a positive and anything to boost shareholder value is magnified.
NVS has one of the strongest pipelines and largest cash reserves of any pharma out there. Any opportunity to buy this stock lower will be a bonus for large scale/long term investors. If it truly goes to sh!t, it will be because the overall market does - think 2008 when you could get it in the mid 30's - but then the Dow was @ 6400....
Investing with you heart leads to two things - a broken heart and an empty pocketbook.