Novo Nordisk Stock Rises as UBS Upgrades Ozempic Maker, Calls Sell-Off ‘Overdone’ | Global News Avenue

Novo Nordisk (non-governmental organizationU.S.-listed and domestic stocks rose on Wednesday after analysts at UBS Research upgraded the Danish drugmaker’s shares to “buy” from “neutral” and called the recent sell-off in the stock “overdone.”

UBS analysts upgraded the stock but lowered their price target on the Copenhagen-listed domestic stock to 750 shares Danish Krone ($103.55) Starting at 1,100 kroner. The stock closed at home on Wednesday at 619.50 crowns, about 40% below its June 25, 2024 closing price of 1,028 crowns.

Recent slides become ‘attractive entry points’

UBS analysts said the decline provided “an attractive entry point” as they expected Weight loss drug market There will be some recovery in the first quarter of this year. Novo Nordisk is the market leader with its Ozempic and Wegovy drugs and its main rivals, Eli Lilly and Company (Li Lai), as well as Mounjaro and Zepbound.

Novo Nordisk shares fell nearly 18% in 2019 one day last month Trial results for its latest weight-loss drug have been disappointing. Analysts called the trial results “undoubtedly disappointing” but said the drug still appeared to be a more effective weight-loss treatment than Ozempic and that it “could still show promise in treating other conditions such as type 2 diabetes in future trials.” Differentiation”.

in its new price targetAnalysts said they expect annual “risk-adjusted peak sales” to reach $75 billion by 2031, instead of $80 billion previously. Sales forecast revised downwards as sales period expires patent Novo Nordisk’s drug will be available in Europe in 2031 and in the United States in 2032, which they expect will lead to lower sales, coupled with poor recent trial results.

Novo Nordisk’s Copenhagen-listed shares closed up about 2.8% on Wednesday, while its U.S.-listed shares recently rose nearly 2% to $84.94.