Novo Nordisk shares rebound after sharp decline but remain far from peak

Novo Nordisk’s stock price has steadily climbed since hitting a low in March, though analysts say the Danish pharmaceutical giant still faces a long road to recover its former highs, Danish broadcaster DR reports.

The company’s shares plummeted earlier this year after a prolonged surge, prompting concerns about its market position. But recent financial results and strong demand for its weight-loss drug Wegovy in pill form have renewed investor confidence.

“It’s been a turbulent few years, with the stock first soaring like a rocket, then taking a hard fall,” said Per Hansen, investment economist at Nordnet. “Now, investors are starting to look ahead again.”

Novo Nordisk reported first-quarter profits of 29.5 billion Danish kroner (around $4.3 billion), slightly above the same period last year. Despite the rebound, the stock—currently trading at roughly 305 kroner—remains far below its 2024 peak of about 1,000 kroner.

Hansen attributed the volatility to market polarization but noted that Novo Nordisk’s dominance in weight-loss medications, particularly Wegovy, remains strong. Over one million U.S. patients have been prescribed the pill form, with sales doubling analyst expectations.

Still, Hansen cautioned that a return to 2024 levels is unlikely in the near term. “Good things take time,” he said, adding that competition—including from U.S. rival Eli Lilly—has made the weight-loss market more challenging than anticipated.