Novo Nordisk stock forecast: Q1 results and guidance

Novo Nordisk A/S (NVO) was trading at $44.80 as of 3:06 pm UTC on 1 June 2026, within an intraday range of $44.70–$46.10, after pulling back from the session high. Shares had closed at $45.58 on 29 May 2026. Past performance is not a reliable indicator of future results.

Sentiment had received some support from Novo Nordisk's stronger-than-expected Q1 2026 results, reported on 6 May. The company raised its full-year guidance to an adjusted sales and operating profit decline of 4%–12% at constant exchange rates, compared with the previously guided range of 5%–13% (Reuters, 6 May 2026). Wegovy injectable sales rose 12% year on year, while oral Wegovy pill prescriptions surpassed 2 million since its January launch (CNBC, 6 May 2026). Additionally, England's National Institute for Health and Care Excellence (NICE) recommended Wegovy for cardiovascular risk reduction in April, potentially broadening NHS coverage and marking the first GLP-1 endorsement for preventive cardiovascular use in the UK (CNBC, 1 April 2026). The stock, however, continued to face pressure from ongoing Ozempic pricing headwinds and competition from Eli Lilly's tirzepatide, as well as potential US drug-pricing policy risk under President Trump's 'most-favoured-nation' framework. These factors could complicate the planned international rollout of Wegovy pill in the second half of 2026.

Novo Nordisk: third-party targets after Q1 guidance lift

As of 1 June 2026, third-party Novo Nordisk stock predictions reflect diverging assumptions on GLP-1 competition, US drug-pricing policy, and the pace of international oral Wegovy adoption.

MarketBeat (broker consensus overview)

MarketBeat aggregates ratings from 23 Wall Street brokerages covering NVO and reports an average 12-month consensus price target of $65.56, within a range of $40–$175. The overall consensus rating stands at Hold, based on 18 hold, four buy, and one sell recommendation. The wide spread between the floor and ceiling reflects materially different assumptions on near-term Wegovy pricing headwinds, the trajectory of international pill launches in H2 2026, and competitive pressure from Eli Lilly's tirzepatide in the obesity market (MarketBeat, 23 May 2026).

Public.com (aggregated analyst view)

Public.com reports that six analysts covering NVO have set an aggregate 12-month price target of $57.92, with an overall consensus rating of Buy. The rating mix comprises 33% strong buy, 17% buy, 33% hold, and 17% sell calls. The Buy-tilted skew reflects expectations for continued Wegovy and Ozempic prescription volume growth, alongside the company's confirmation that oral Wegovy surpassed 2 million US prescriptions since its January 2026 launch (Public.com, 1 June 2026).

Zacks (consensus earnings and rating view)

Zacks assigns NVO a Zacks Rank #3 (Hold) as of late May 2026, noting that the consensus earnings estimate for the current fiscal year stands at $3.46 per share, implying a year-on-year decline of 12.6%. The estimate had been revised upward by 3.8% over the prior 30 days. The Hold stance reflects a consensus revenue forecast of $45.12bn for the current fiscal year, a decline of 3.6% year on year. Zacks also cited the Q1 2026 revenue beat of 36.3% versus consensus as partly attributable to a one-off US pricing adjustment that inflated the reported figure (Zacks, 25 May 2026).

MarketBeat – Erste Group Bank (single-firm EPS revision)

MarketBeat reports that Erste Group Bank analyst H. Engel raised the FY2026 EPS estimate for NVO to $3.22 per share from $3.19, still below the then-prevailing Street consensus of $3.34. The aggregate Hold consensus and $65.56 average price target across 23 brokerages remained unchanged post-earnings. The modest upward revision reflects improved near-term operating leverage from Wegovy pill adoption, with the analyst noting that the underlying adjusted sales trend continued to point to a mid-single-digit annual decline at constant exchange rates (MarketBeat, 8 May 2026).

Yahoo Finance (valuation context)

Yahoo Finance highlights a discounted cash flow analysis suggesting NVO shares were undervalued by approximately 55.0% relative to intrinsic value as of the Q1 2026 earnings period. The company had also narrowed its full-year guidance to an adjusted sales decline of 4%–12% at constant exchange rates, from the prior 5%–13% range. The assessment cites improving obesity-care demand and the oral Wegovy launch as the main upside variables, while flagging residual uncertainty around US most-favoured-nation drug-pricing proposals as a downside risk to international revenue assumptions (Yahoo Finance, 8 May 2026).

Predictions and third-party forecasts are inherently uncertain, as they cannot fully account for unexpected market developments. Past performance is not a reliable indicator of future results.

Novo Nordisk earnings: latest results and upcoming schedule

Novo Nordisk reported Q1 2026 results on 6 May 2026, posting earnings per share of $1.04, ahead of the analyst consensus estimate of $0.87. Revenue came in at approximately $10.85bn for the quarter, broadly in line with the consensus estimate of $10.86bn (MarketBeat, 30 May 2026). Wegovy injectable sales rose 12% year on year to 18.2bn Danish kronor, falling slightly short of LSEG-compiled expectations. Meanwhile, the oral Wegovy pill surpassed 2 million US prescriptions since its January 2026 launch, roughly double initial estimates (CNBC, 6 May 2026). The company narrowed its full-year 2026 guidance to an adjusted sales and operating profit decline of 4%–12% at constant exchange rates, from the previously guided 5%–13% range (Reuters, 6 May 2026). The Q1 reported figure was partially inflated by a one-off US pricing adjustment (Zacks, 25 May 2026).

Novo Nordisk's next scheduled earnings release is its Q2 2026 results, estimated for Wednesday, 5 August 2026, based on prior reporting schedules (MarketBeat, 30 May 2026). Investors may use the update to assess whether Wegovy pill adoption outside the US is accelerating in line with the company's H2 2026 international launch timeline (Reuters, 6 May 2026). The Q2 report should also offer a cleaner view of underlying sales trends, excluding the one-off Q1 pricing benefit. Consensus EPS for the current fiscal year stands at $3.46, implying a year-on-year decline of approximately 12.6% (MarketBeat, 30 May 2026).

NVO stock price: technical overview

The NVO stock price trades at $44.80 as of 3:06 pm UTC on 1 June 2026, just below its 20-day simple moving average (SMA) at approximately $45 and within a mixed moving-average structure. The 20/50/100/200-day SMAs stand at approximately $45 / $41 / $45 / $49. The 200-day SMA at $48.94 acts as a longer-term overhead reference above the current price, while the 50-day SMA at $41.26 provides a lower reference point.

The 14-day relative strength index reads 54.87, an upper-neutral reading that indicates neither overbought nor oversold conditions. The average directional index at 22.71 sits below the 25 threshold, suggesting the prevailing trend lacks strong directional conviction at this stage.

On the topside, the classic R1 pivot at $47.88 is the nearest reference above the last price. A daily close above that level would put the R2 pivot at $50.18 in view. On the downside, the classic pivot point at $45.49 represents initial support, with the S1 level at $43.19 the next meaningful reference below. A sustained move under the $41–$45 SMA shelf could risk a deeper pullback toward the S2 area at $40.79 (TradingView, 1 June 2026).

This technical analysis is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any instrument.

Novo Nordisk share price history (2024–2026)

NVO’s stock price reached a data high of $112.05 on 11 December 2024, reflecting strong investor interest in the GLP-1 obesity drug theme before a sharp reversal began. By the end of 2024, the stock had pulled back to close at $86.22 on 31 December, as investors grew cautious over intensifying competition from Eli Lilly’s tirzepatide.

2025 brought further pressure. NVO briefly recovered to a local high of $91.75 on 25 February 2025 before sentiment weakened again. In early March, Novo Nordisk cut its 2026 outlook, and the ADR shed roughly 13% across a single week, closing at $78.88 by 10 March. A partial summer recovery pushed the stock back to $71.69 on 25 July 2025, but that move proved short-lived. NVO dropped to $54.55 by 29 July amid renewed sector concerns. The stock ended 2025 at $50.90, down approximately 41% year on year.

The sell-off deepened into early 2026. After a brief spike to $59.05 on 2 February, the day of Q4 2025 earnings, the stock fell sharply as Novo cut guidance, closing at $35.37 on 30 March 2026, the lowest level in the dataset. A recovery followed Q1 2026 results in May, with NVO rebounding to $47.24 on 13 May after the company narrowed its full-year guidance range and Wegovy pill adoption beat expectations.

NVO closed at $44.67 on 1 June 2026, approximately 12.2% down year to date and approximately 38.9% lower year on year.

Past performance is not a reliable indicator of future results. Share prices are indicative and may differ from live market prices.

Novo Nordisk (NVO): Capital.com analyst view

Novo Nordisk’s ADR has had a volatile stretch, falling from a data high above $112 in December 2024 to a low of $35.37 in March 2026. The decline reflected competitive pressure in the GLP-1 market, US drug-pricing concerns, and two consecutive guidance cuts. The Q1 2026 earnings report in May provided some relief, with the company narrowing its full-year outlook and oral Wegovy prescriptions exceeding initial expectations. This helped the stock recover toward the mid-$40s, although the share price remains well below prior peaks, reflecting continued uncertainty around long-term revenue trends and the sustainability of the obesity drug market’s growth trajectory.

Looking ahead, the oral Wegovy rollout and a potential UK NHS expansion remain possible catalysts for sentiment. However, faster-than-expected pricing deterioration in the US, or stronger competition from Eli Lilly and emerging biosimilars, could also weigh on the stock. The gap between the most optimistic and most cautious analyst price targets, ranging from $40–$175 as of late May 2026, highlights the wide range of plausible outcomes.

Capital.com’s client sentiment for Novo Nordisk CFDs

As of 1 June 2026, Capital.com client positioning in Novo Nordisk CFDs shows 97.3% long versus 2.7% short. That puts buyers ahead by 94.6 percentage points and places sentiment in one-sided long territory. This snapshot reflects open positions on Capital.com at the time of writing and can change rapidly.

Summary – Novo Nordisk 2026

Past performance is not a reliable indicator of future results.

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