Novo Roundtrips GLP-1 Craze Ahead Of Earnings As Goldman Maps Out Next Wave Of Obesity-Drug Catalysts

Novo Nordisk's stock has plummeted due to obesity drug competition and profit downgrades, returning to pre-GLP-1 boom levels. New CEO Maziar Mike Doustdar will present his initial results with the upcoming third-quarter earnings report. Novo has already cut thousands of jobs and lowered its profit forecast multiple times this year. Analysts note Doustdar's aggressive approach and potential disruption from board reshuffling, signaling necessary change. Investors are eager to hear Doustdar's priorities and turnaround plan to stabilize the company. Despite the stock's decline, Wall Street remains largely optimistic, with a majority of analysts rating it a "Buy." The average price target indicates a significant upside potential from current levels. Goldman Sachs analysts provided a detailed analysis of upcoming events impacting Eli Lilly, Novo Nordisk, and other industry players. The obesity drug sector is dynamic, with numerous developments expected from key companies. Investors are closely monitoring Novo Nordisk's strategy under its new leadership amidst evolving market conditions.