1402 GMT - Novo Nordisk shares trade at a low multiple, and the company's ability to fight back and regain its foothold in the obesity market remains key to driving investor confidence, HSBC writes. Most important in the fight back will be the launch of oral semaglutide in 2026. HSBC also says the market might need further evidence that the company is not deprioritizing the launch of obesity and diabetes treatment Cagrisema, otherwise Novo Nordisk faces a large loss of drug-patent exclusivity in 2032. "We think that the inflection point in the shares is unlikely to be before the full year guidance is issued by the company." The bank raises its target price on the stock to 350 Danish kroner from 300 kroner and keeps its hold rating. Shares rise 1.4% to 303.40 kroner. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
December 10, 2025 09:02 ET (14:02 GMT)
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