Novo Nordisk shares fell nearly 30% in the fourth quarter on disappointing clinical trial data, and other concerns. Bank of America addresses the company’s earnings and more.

When it comes to weight loss drugs, Ozempic has become a phenomenon. With nearly $14 billion in sales in 2023, it shows no signs of slowing down, much to the delight of its Danish manufacturer, Novo Nordisk A/S (NYSE: NVO).

Investing.com - Novo Nordisk (CSE: NOVOb ) remains the "most exciting growth story" in the European pharmaceutical sector and is in pole position to benefit from strong near-term demand for new weight-loss drugs, according to analysts at UBS.

Novo Nordisk stock has erased 40.7% over the last six months, worsened by a nearly 20% bear gap back in late December following an update on the company's weight loss drug CagriSema. Now "oversold," NVO's 14-day relative strength index (RSI) ranks at 15.

Fintel reports that on January 5, 2025, BNP PARIBAS EXANE upgraded their outlook for Novo Nordisk A (NYSE:NVO) from Neutral to Outperform. Analyst Price Forecast Suggests 65.56% Upside As of December 23,

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price,