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Novo Nordisk strong buy on GLP-1 growth, oral Wegovy success, and 53% upside potential

Company Fundamentals
08 Jun 2026
Seeking Alpha
View Source
Bullish
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Novo Nordisk remains a strong buy due to robust volume growth in its GLP-1 products despite recent earnings misses and price pressure. The oral version of Wegovy exceeded expectations with strong unit economics and a global rollout that supports future volume and margin growth. Key upcoming catalysts include Medicare coverage for Wegovy, international launches, and pipeline advancements like CagriSema and the REIMAGINE program. The stock trades at a significant discount to peers, with a scenario analysis suggesting a 53.4% upside to a $64.41 price target.

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