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.

Shares of Novo Nordisk NVO gained 2.8% on Wednesday likely because the analysts at UBS upgraded the company’s rating from “Neutral” to “Buy.” Novo Nordisk markets its semaglutide medicines as Ozempic pre-filled pen and Rybelsus oral tablet for type II diabetes (T2D) and Wegovy injection for weight management.

Key Takeaways Novo Nordisk shares rose Wednesday on the company's home market in Denmark and in the U.S. after UBS analysts upgraded the stock.The analysts upgraded the Ozempic obesity drugmaker to a "buy,

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.