Novo Nordisk's U.S.-listed and domestic shares rose Wednesday after analysts from UBS upgraded the Danish drugmaker's stock to "buy" from "neutral," calling the recent sell-off of the stock "overdone.

Investing.com - Novo Nordisk (CSE: NOVOb ) remains the "most exciting growth story" in the European pharmaceutical sector and is in pole position to benefit from strong near-term demand for new weight-loss drugs, according to analysts at UBS.

Novo Nordisk shares fell nearly 30% in the fourth quarter on disappointing clinical trial data, and other concerns. Bank of America addresses the company’s earnings and more.

Fintel reports that on January 8, 2025, UBS upgraded their outlook for Novo Nordisk A (NYSE:NVO) from Sell to Buy. Analyst Price Forecast Suggests 61.15% Upside As of December 23, 2024, the average one-year price target for Novo Nordisk A is $137.

Novo Nordisk stock has erased 40.7% over the last six months, worsened by a nearly 20% bear gap back in late December following an update on the company's weight loss drug CagriSema. Now "oversold," NVO's 14-day relative strength index (RSI) ranks at 15.