Goldman Sachs doubles down on Novo stock target after key event

Novo Nordisk (NVO) has spent 2026 trying to person investors that the worst is down it.

After a punishing year, the banal is yet clawing backmost from its lows.

So, erstwhile Goldman Sachs sat down with absorption astatine a large healthcare league this month, investors wondered if the slope would crook much affirmative astir Novo’s stock.

The reply was clear:

Goldman near its standing and people close wherever they were, indicating wherever the GLP-1 contention stands today.

What Goldman Sachs decided connected Novo Nordisk banal aft the league

Goldman Sachs reaffirmed its Neutral standing and $47 terms people connected Novo Nordisk banal aft gathering absorption astatine the 47th Annual Global Healthcare Conference connected June 9.

The slope had lifted that people to $47 from $41 connected June 3, truthful the league enactment efficaciously cemented its stance, according to TipRanks data.

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The $47 fig sits astir 7% supra wherever the shares are trading astatine the clip of writing, closing June 12 astatine 287.25 Danish kroner, up 1.66% connected the time and astir 2.9% implicit 5 sessions.

Why Novo Nordisk banal fell truthful acold earlier this rebound

To spot wherefore a $47 people counts arsenic progress, you person to retrieve however brutal the driblet was.

Novo shares deed a 52-week debased adjacent $37 earlier this year, down from a precocious supra $90, aft its next-generation obesity cause CagriSema missed a cardinal proceedings extremity successful February, TIKR reported.

The institution past guided to a full-year income diminution and announced a restructuring that chopped astir 9,000 jobs.

It besides kept losing crushed to Eli Lilly, which held astir 60% of the combined U.S. obesity and diabetes GLP-1 marketplace successful the archetypal 4th against Novo’s 39%.

What the Wegovy pill and Ozempic could mean for Novo’s betterment

The astir utile item from the league was astir the marketplace request for the Wegovy pill.

Goldman said astir users are radical who person ne'er taken a GLP-1 cause before, which means the pill is increasing the market, not conscionable relying connected existing patients alone.

Related: Wall Street sees immense upside arsenic Novo Nordisk backs biotech company

Novo besides has Wegovy HD, a higher-strength 7.2 mg injection cleared by the FDA successful March that tin thrust value nonaccomplishment of astir 21%, arsenic disclosed successful the company’s SEC filing.

That gives doctors a stronger dosing enactment and a crushed to support prescribing Wegovy.

On diabetes, Novo is leaning connected the trusted Ozempic sanction arsenic it rolls retired an Ozempic pill successful the U.S., with support for a higher dose expected aboriginal this year.