Demand for Novo Nordisk's Weight Loss Pill Is Strong Out of the Gate. Is the Stock Due for a Big Rally?
Key Points
Novo Nordisk obtained approval for its GLP-1 weight loss pill late last year.
The company has already launched the drug, and there were more than 18,000 prescriptions in the U.S. in just its first week.
The stock is coming off a brutal performance in 2025 when its share price crashed by 41%.
- 10 stocks we like better than Novo Nordisk ›
Novo Nordisk (NYSE: NVO) got fantastic news last year when regulators approved its weight loss pill. It's the first oral GLP-1 drug in the market, and it unlocks a huge new growth opportunity for the business. While its injectable drugs have been doing well, a pill can be easier to produce at scale, and it's a more convenient option for people, particularly those who don't want to use needles.
Shares of Novo Nordisk have been flying out of the gate in 2026 and they're up around 26% as of Jan. 26. By comparison, the S&P 500 is up around just 1.5%. Could this be the start of an even bigger rally for Novo Nordisk?
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »
Image source: Getty Images.
Demand for the Wegovy pill is proving to be incredibly strong
Novo Nordisk launched its weight loss pill, which is the oral version of its popular injectable Wegovy, earlier this month. And in its first full week, it was prescribed 18,410 times in the U.S.
It's a great sign for Novo Nordisk that might bolster its growth rate this year, which is in desperate need of a catalyst. Last year, the healthcare company slashed its full-year outlook due to rising competition and compounding pharmacies offering knock-off versions of its popular drugs. From a previous range of 13% to 21%, the company cut its guidance for sales growth to a range of just 8% to 14%. With strong demand for its weight loss pill, there's likely to be much better growth numbers for Novo Nordisk in 2026.
Novo Nordisk's stock looks overdue for a significant rally
Last year was a tough one for Novo Nordisk, as the drugmaker's stock fell by a whopping 41%. A cut to its guidance and a change in CEO gave investors multiple reasons to be bearish on the stock. However, the market was arguably far too bearish on what is still a quality stock to invest in. Even with its strong start to 2026, Novo Nordisk's stock looks fairly cheap, trading at a price-to-earnings (P/E) multiple of just 17. By comparison, rival Eli Lilly's stock trades at a P/E of more than 50.
There's plenty of room for Novo Nordisk's stock to rise higher this year. Despite the strong performance in the first few weeks of the year, it's not too late to invest in this top healthcare stock, as this may still be the early innings of a much larger rally to come.
Should you buy stock in Novo Nordisk right now?
Before you buy stock in Novo Nordisk, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Novo Nordisk wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $448,476!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,180,126!*
Now, it’s worth noting Stock Advisor’s total average return is 945% — a market-crushing outperformance compared to 197% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
See the 10 stocks »
*Stock Advisor returns as of January 30, 2026.
David Jagielski, CPA has positions in Novo Nordisk. The Motley Fool recommends Novo Nordisk. The Motley Fool has a disclosure policy.
Recommended Articles
