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Barchart
Barchart
Anushka Mukherji

Is Novo Nordisk Stock a Buy, Sell, or Hold Before Q2 Earnings?

Novo Nordisk Novo Novo Nordisk Stock Obesity Eli Lilly NVO

Danish pharmaceutical giant Novo Nordisk A/S (NVO) is facing serious headwinds. After enjoying a strong run fueled by demand for its obesity treatments, the obesity drug pioneer is now under pressure from rising competition, particularly from Eli Lilly’s (LLY) weight-loss drugs, as well as trial setbacks for its next-generation therapies. In fact, things took a sharp turn on July 29, when the company cut its full-year sales growth guidance for the second time in just three months and named a new CEO.

The market response was swift and brutal, with NVO shares plunging over 21% in a single day. Now, with second-quarter earnings just around the corner on Aug. 6, does Novo Nordisk’s recent plunge present a golden buying opportunity, or is it a clear signal to keep your distance? 

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