#1 - Novo Nordisk (NYSE:NVO)
Novo Nordisk A/S (NYSE: NVO) was the first company to receive FDA approval for its weight-loss drugs. The company’s GLP-1 portfolio includes Ozempic (diabetes) and Wegovy (obesity). It also recently launched Rybelsus which is the only approved GLP-1 treatment that is not injected.
NVO stock is up 194% in the last 12 months. And in the first two quarters of the company’s 2024 fiscal year, revenue is up 23.8%.
However, the 34.5% gain lags behind competitors due to slower market expansion and recent testing that has shown Eli Lilly’s drugs to be more effective. The company recently announced that it expects the shortage of its GLP-1 drugs to continue into 2025.
The company also faces tougher comparisons. In its fiscal year (FY) 2024, revenue growth between the first and second quarter was 3%. That was identical to the same two quarters in FY2023. And the company is also facing regulatory pressure to meet Medicaid requirements for diabetes drugs.
That said, Novo Nordisk has several next-generation diabetes and obesity drugs in its pipeline. And the supply chain issues, while serious, are being offset by approvals in China and the European Union for using Wegovy as a treatment for heart disease.
About Novo Nordisk A/S
Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease.
Read More - Current Price
- $105.35
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 6 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $144.50 (37.2% Upside)
