Novo Nordisk shares fell nearly 30% in the fourth quarter on disappointing clinical trial data, and other concerns. Bank of America addresses the company’s earnings and more.

Right now, Novo stock is trading at a forward price-to-earnings (P/E) multiple of 22.5 -- its lowest level in well over a year. I think now is a terrific opportunity to scoop up shares of Novo on the dip and lower your cost basis if you're an existing investor, or initiate a position if you've been following the company for a while.

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 shares fell nearly 30% in the fourth quarter on disappointing clinical trial data, and other concerns. Bank of America addresses the company’s earnings and more.

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.