Novo Nordisk (NVO), maker of the popular weight-loss drug Wegovy, saw its shares move higher on Wednesday after reporting stronger-than-expected first-quarter results. The earnings report eased concerns that growth in the weight-loss drug market was slowing too quickly.
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The company beat Wall Street estimates on both revenue and earnings, helped by strong demand for Wegovy products. Management also raised its full-year outlook, giving investors more confidence that the business may recover faster than expected.
Novo Beats Wall Street Estimates
Novo Nordisk reported first-quarter revenue of $15.17 billion, well above analyst expectations of $11.13 billion. Adjusted earnings per share came in at $1.04, ahead of estimates of $0.87.
Operating profit also topped expectations, reaching DKK 32,858 million, helped by strong demand for obesity drugs and a one-time accounting benefit. Earlier this year, investors were worried that price pressure in the U.S. market would lead to a sharp slowdown in growth.
However, the latest quarter showed that demand for Wegovy remains very strong.
Wegovy Pill Sees Strong Early Demand
One of the biggest highlights from the quarter was the launch of the Wegovy pill in the U.S. on January 5, 2026. Novo said more than 1.3 million prescriptions were filled during the quarter, while total prescriptions have already crossed 2 million since launch. The pill also generated more than DKK 2.2 billion in sales during its first quarter on the market.
The oral version of Wegovy gives Novo a way to reach patients who prefer a daily pill instead of weekly injections. That could help the company compete more effectively with Eli Lilly (LLY), which is also expanding rapidly in the obesity drug market.
Guidance Increase Lifts Investor Confidence
The company also updated its full-year 2026 outlook. Earlier this year, Novo warned that sales could decline by as much as 13% because of lower drug prices in the U.S. market.
Now, management expects adjusted sales and operating profit to decline by a range of 4% to 12%. While the company still expects pressure on growth, the updated outlook suggests conditions may not be as bad as investors had feared.
Is Novo Nordisk a Good Stock to Buy Now?
According to TipRanks, NVO stock has received a Hold consensus rating based on one Buy and seven Holds. The Novo Nordisk share price forecast stands at $43.0, which is around 4% below the current trading level.
These ratings and price targets will likely change as analysts update their coverage following today’s earnings report.
