health
February 24, 2026
Novo Nordisk trial ‘own goal’ sparks flurry of analyst downgrades
Analysts raced to cut price targets on an already struggling Novo Nordisk stock following disappointing trial results for its weight loss candidate CagriSema.
TL;DR
- At least seven analysts lowered their price targets on Novo Nordisk following disappointing trial results for its next-generation weight loss drug, CagriSema.
- CagriSema did not meet the key goal of matching Eli Lilly's rival medicine Zepbound, causing the stock to fall over 16% to a four-year low.
- Analysts have cut their peak sales estimates for CagriSema, with one analyst reducing their estimate by over 80%.
- Novo Nordisk predicted a 5%-13% decline in sales and profits in 2026, which was worse than expected by the market.
- Novo Nordisk stated satisfaction with the 23% weight loss achieved in the CagriSema trial, despite it being lower than Zepbound's 25.5%.
- The company is also developing another experimental drug, UBT251, which showed up to 19.7% weight loss in a mid-stage trial in China.
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