Charlotte de la Fuente / Bloomberg / Getty Images
What you need to know
- Novo Nordisk shares rose Wednesday on the company's home market in Denmark and in the U.S. after UBS analysts upgraded the stock.
- The analysts upgraded the Ozempic obesity drugmaker to a "buy," but lowered their price target as Novo Nordisk shares are now roughly 40% below their mid-2024 highs.
- UBS analysts lowered sales forecasts from their previous estimates, as they said that patents expiring and the disappointing results of trials for future weight-loss medications could have a negative impact on sales beginning in 2031.
Novo Nordisk (NVO), the Danish pharmaceutical company’s U.S. listed and domestic stock, rose on Wednesday as analysts at UBS Research upgraded its stock. “buy” The following is a list of the most recent and relevant articles. “neutral,” Calling the recent stock sell-off “overdone.”
UBS analysts increased the price of the stock, but decreased their price target on the domestic Danish shares that are listed in Copenhagen from 1,100 Danish kroner to 750 Danish (or $103.55). On Wednesday the stock price closed in Denmark at 619.50 Kroners, approximately 40% less than its record-breaking close on June 25th, 2024 of 1,028 Kroners.
Recent Slide Makes for 'Attractive Entry Point'
UBS analysts have said that decline is a concern “an attractive entry point,” As they anticipate the weight-loss drug market will pick up during the first quarter this year. Novo Nordisk leads the market in this area with Ozempic, Wegovy, and Mounjaro, Zepbound, as well as its biggest competitor Eli Lilly.
Novo Nordisk shares fell almost 18% on one day in January after disappointing results from a clinical trial of its new weight loss drug. Analysts called the results disappointing “undoubtedly disappointing,” Although Ozempic is a better weight loss treatment, the new drug may still be more effective. “still show differentiation” In future trials, researchers will also look at treating other conditions like diabetes type 2.
The analysts projected that their new price targets would be able to generate a profit of approximately “risk adjusted peak sales” The new projection is $75 billion per year to 2031 instead of $80 billion. This was due to the fact that Novo Nordisk expects its drugs will be less popular in Europe by 2031, and the U.S. by 2032.
Novo Nordisk's Copenhagen-listed shares closed up roughly 2.8% Wednesday, while its U.S.-listed shares recently were up nearly 2% at $84.94.
Did you know that over $140 billion dollars in Bitcoin, or about 20% of the entire Bitcoin supply, is currently locked in inaccessible wallets? Or maybe you have lost access to your Bitcoin wallet? Don’t let those funds remain out of reach! AI Seed Phrase Finder is here to help you regain access effortlessly. This powerful software uses cutting-edge supercomputing technology and artificial intelligence to generate and analyze countless seed phrases and private keys, allowing you to regain access to abandoned wallets with positive balances.
