Here is the 28th edition of “Stock of the Week”. You can find all the previous analyses and my articles on my main page (for an easier search, use a computer, mobile version is harder to navigate).
Here are the links to the 3 previous “Stocks of the Week” as well
The stock continues to fall, but is it close to a bottom?
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The stock at a glance
Recent news
New CEO. Maziar Mike Doustdar replaced Lars Fruergaard Jørgensen as CEO to address market challenges with a focus on performance and growth
Legal actions against compounders. Novo Nordisk filed new lawsuits targeting unauthorized copycat versions of Wegovy and Ozempic
Ongoing trials. Additional trials for CagriSema in obese patients with diabetes and semaglutide for Alzheimer’s could create new growth streams
Competition and pricing pressure. The company faces increased competition (especially from Eli Lilly) and is pressured by the US government to reduce the price of its drugs
Last earnings report
The company posted strong Q2 2025 results, so why the sharp sell-off?
The simple answer: FY25 growth guidance has been sharply cut, now projected at just 8% – 14%.
Analysts’ recommendations
Aug, 11. DZ Bank. Hold. 370DKK —> 333DKK
Aug, 08. Goldman Sachs. Buy. 400DKK —> 392DKK
Aug, 08. HSBC. Hold. 340DKK —> 355DKK
Aug, 07. Deutsche Bank. 750DKK —> 600DKK
My analysis
Most of the potential risks for the stock have already played out, from rising competition to mounting US government price pressures
With much of this now priced in, the valuation has dropped to compelling levels. The next headwind could be a margin squeeze if US authorities push for further price cuts
Still, with the market cap now approaching pre-GLP-1 levels, the stock offers an appealing risk-reward profile
The company remains fundamentally strong, delivering around 10% growth, holding significant market share, addressing a massive market opportunity, and supported by a solid balance sheet and robust free cash flow, providing ample strategic flexibility
Technical analysis
I have defined three buying zones that I find interesting for long-term investments during pullbacks. While these zones may not be reached, I am prepared for a market (or stock) consolidation to seize long-term opportunities. For me, this approach offers a better risk/reward ratio.
Of course, this is just my opinion, and I am sharing it with you, but each investor should decide on their own investment style. With that said, here are my three buying zones for Novo Nordisk.
Buying zone 1. 310DKK
Buying zone 2. 220DKK
Buying zone 3. 160DKK
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Used source: Marketscreener.com. Affiliate link just here
Novo Nordisk and AP Moeller are danish top opportunities now
Love the setup here. Solid Ema and good price action