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Novo Nordisk optimistic on new obesity drug study, Deutsche Bank keeps 'hold' rating with limited upside.

Market News
20 May 2026
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Deutsche Bank maintains a 'hold' rating on Novo Nordisk with a price target of DKK290 after discussions with the company's head of R&D. Novo Nordisk is cautiously optimistic about its new obesity drug study, cagrisema RD11, which may outperform the previous RD4 trial that disappointed markets. The company is competing fiercely with Eli Lilly in the GLP-1 obesity and diabetes drug market, focusing on next-generation therapies and oral formulations. Despite some positive outlook, Deutsche Bank sees limited upside potential for Novo Nordisk shares currently trading just below the target price.

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