When it comes to weight loss drugs, Ozempic has become a phenomenon. With nearly $14 billion in sales in 2023, it shows no signs of slowing down, much to the delight of its Danish manufacturer, Novo Nordisk A/S (NYSE: NVO).

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.

Putting tariffs on Denmark unless it cedes the island of Greenland could hurt access to a few key products, including popular medicines.