Novo Nordisk A/S

NVO · OMX

$39.05−$0.38 (−0.96%)TodayMarket closed · Oct 23, 7:59 PM ET

Prev close $39.43

NVO analyst rating

HoldConsensus of 8 analysts over the last 12 months. 13% rate it a buy.

Strong buy0
Buy1
Hold5
Underperform2
Sell0

12-month price target · 31 analysts

Average $46.38 (+18.8% upside)

Low: $30.60
Now: $39.05
High: $69.74

Upgrades and downgrades

The latest rating actions, newest first

NVO analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
BMO Capital	Oct 12, 2026	Maintains	Market Perform	$47.00 → $40.00	56%
Morgan Stanley	Sep 11, 2026	Downgrade	Equal-Weight → Underweight	$40.00	67%
Goldman Sachs	Mar 2, 2026	Downgrade	Buy → Neutral	$63.00 → $41.00	50%
JP Morgan	Feb 24, 2026	Downgrade	Overweight → Neutral	—	56%
CICC	Jan 9, 2026	Initiates	Outperform	$73.50	—
Argus Research	Dec 8, 2025	Downgrade	Buy → Hold	—	65%
Goldman Sachs	Nov 28, 2025	Maintains	Buy	$60.00 → $54.00	50%
BMO Capital	Nov 25, 2025	Maintains	Market Perform	$50.00 → $46.00	56%
HSBC	Nov 24, 2025	Downgrade	Buy → Hold	—	59%
Jefferies	Oct 27, 2025	Initiates	Underperform	—	80%

The case for and against

Updated Oct 7, 2025

Bull case

Novo Nordisk leads the global branded diabetes treatment market with approximately 20% market share, significantly benefiting from the expected 20% growth in North America, which is projected to boost revenue estimates to DKK 24.9 billion. The continued dominance of Wegovy and Ozempic, bolstered by their strong cultural and physician recognition, positions the company for robust sales growth moving forward. Additionally, the favorable outcomes from clinical trials, such as the SURMOUNT-5 trial, which demonstrated the superior efficacy of tirzepatide over semaglutide, further enhances Novo Nordisk's competitive edge in the diabetes and obesity treatment sectors.

Bear case

Novo Nordisk's stock faces a negative outlook primarily due to anticipated lower than expected revenue growth from its incretin products, Ozempic and Wegovy, which is projected to decline by 10%. Current revenue estimates for North America indicate a significant shortfall, with projections of DKK 12.8 billion for Wegovy in Q1 2025, notably below the consensus expectation of DKK 14.4 billion. This trend suggests potential challenges in meeting market expectations and could negatively impact future financial performance and investor sentiment.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.