#1 - Novo Nordisk (NYSE:NVO)
Novo Nordisk (NYSE:NVO) needs to be on any list of stocks that can help you profit from the weight loss craze. The maker of Ozempic and Wegovy has seen their obesity care sales increase by 174% through the first nine months of 2023. Ozempic generated $3.4 billion in sales.
It’s important to note that while Ozempic and Wegovy are used synonymously, there are key differences. Ozempic is intended to treat Type-2 diabetes. Wegovy is approved for weight loss. However, Wegovy, like Ozempic, does use semaglutide as its active ingredient.
Not surprisingly, NVO stock is up over 200% for the year. At around $105 a share in late December 2023, the stock is hitting some resistance. However, the Novo Nordisk analyst ratings on MarketBeat give the stock a Moderate Buy rating with a price target of $115.
That outlook is based on the likelihood of more competition in this space. However, if that competition is slow to emerge, NVO stock may have a longer runway.
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
- $126.71
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 6 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $133.60 (5.4% Upside)
