$NOVO B (+3,27%) Nordisk is in much better shape than feared for a long time ahead of trading in the new year from Friday. The share price ended the old year at around 44.02 euros. Although this level does not mark a major leap compared to previous weeks, it does signal a clear shift from the previous risk of a crash. The share had been struggling around the EUR 40 mark for some time. This was precisely the area where buyers intervened several times and slowed down sales. For good reason, as the assessment of the current starting conditions can certainly show.
Novo Nordisk: The good news!
The trigger for the latest movement came from the USA. The approval of Wegovy in tablet form there significantly changed the perception of the product. So far, Wegovy was primarily seen as an injection solution. With the tablet form, Novo Nordisk is expanding access to a significantly larger group of users. This news immediately triggered increased buying activity and provided a visible boost to the share price.
This was followed shortly afterwards by a second announcement from China. The authorities there imposed a price cap on Wegovy. Novo Nordisk confirmed this step publicly. This news partially relativized the first impulse. Nevertheless, the reaction on the stock markets remained muted. Buyers did not withdraw. Sellers did not intensify their activities either. The share price remained close to the level reached.
It is now 2 euros short of the GD100 and thus the formal jump into the upward trend. If this is now achieved quickly, analysts' expectations could come into effect in the new year. They expect price gains of around 20 %. That would be a strong year and would also mean that the share price would break through the EUR 50 mark. This would then open up a whole new range of opportunities anyway.
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Source: boerse-express.com
