Novo Nordisk rose more than 2.9% during the session, as JP Morgan included it in the "positive catalyst list."
JP Morgan expects that Novo Nordisk's new weight loss drug CagriSema will achieve a weight loss effect of 25.1%, surpassing competitors Novo Nordisk's Wegovy at 14.9% and Eli Lilly's Zepbound at 20.9%, with similar side effects among the three. As a result, Novo Nordisk's U.S. stock rose over 2.9% on Monday
On Monday, November 11th, Eastern Time, Novo Nordisk's stock rose over 2.9% during intraday trading, as JP Morgan included the company's stock in its "positive catalyst list" and assigned an "overweight" rating. JP Morgan's rationale is based on optimism regarding Novo Nordisk's upcoming disclosure of research data for the weight loss drug CagriSema in December.
The analyst team led by Richard Vosser at JP Morgan believes that this data could potentially confirm that CagriSema has the "best in disease profile," meaning that among all weight loss drugs, this medication has the best weight loss effect. They expect that if the efficacy is indeed that good, Novo Nordisk's stock price could rise at least another 10%.
Analysts predict that the market is most concerned about the efficacy data from the REDEFINE 1 clinical trial, which will show that CagriSema has an average weight loss effect of 25.1%, better than the effects of the other two weight loss drugs, Novo Nordisk's Wegovy (14.9%) and Eli Lilly's Zepbound (20.9%). Moreover, the side effects (tolerability) of CagriSema will be similar to those of Wegovy and Zepbound.
Additionally, TD Cowen analyst Michael Nedelcovych also gave a "buy" rating. In a report on Monday, he noted that the preparations for CagriSema's market launch are progressing smoothly, and the drug's main active ingredient, semaglutide, is continuously being improved