Novo Nordisk | NVO | Long at $86.74The Good:
NYSE:NVO expects its GLP-1 drugs Wegovy and Ozempic to soon come off the Food and Drug Administration's official shortage list.
Just reported better-than-expected net profit in Q4 2024, amid soaring demand for its obesity drugs.
Revenues for the Q4 2024 came in at $11.6 billion, up 30% compared to the same quarter in 2023.
From a technical analysis perspective, hovering near my historical simple moving average which may lead to a near-term price increase due to positive earnings
The Bad:
Slower growth in 2025 (16%-24% for 2025 vs 18%-26% in 2024).
Chart has been on a major run since 2020 and may be due for further correction.
Personally, the positives outweigh the negatives given the obesity drug demand. Thus, at $86.74, NYSE:NVO is in a personal buy zone.
Targets:
$96.00
$105.00
