Novo Nordisk (NVO) Stock: Bernstein Sees 33% Downside as Lilly Pressure Builds
TLDR
- Bernstein maintained its “underperform” rating on NVO with a price target of 203 Danish kroner, implying 33% downside from the August 7 close of 305.10 kroner.
- The brokerage cut its 2026-2031 EPS forecasts by up to 15% below consensus, citing worsening U.S. market share losses to Eli Lilly.
- Bernstein expects Lilly’s Foundayo to take majority U.S. oral obesity share from Novo’s Wegovy pill by 2028.
- Wegovy pill sales came in at around $497 million, narrowly missing forecasts, adding to investor concern.
- Analyst consensus sits at “Hold” with an average price target of $65.81; NVO traded at $47.21 on Friday.
Novo Nordisk stock opened at $47.21 on Friday, sitting well below its one-year high of $64.16, as bearish analyst pressure continues to stack up against the Danish drugmaker.
Bernstein is the latest to put a number on the pain. The brokerage maintained its “underperform” rating and raised its price target slightly to 203 Danish kroner from 200 kroner. That still implies 33% downside from the August 7 close of 305.10 kroner.
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