Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTPeace LongeSun, June 14, 2026 at 5:33 PM GMT+2 4 min readNovo Nordisk (NVO) has spent 2026 trying to convince investors that the worst is behind it.After a punishing year, the stock is finally clawing back from its lows.So, when Goldman Sachs sat down with management at a major healthcare conference this month, investors wondered if the bank would turn more positive about Novo’s stock.The answer was clear:Goldman left its rating and target right where they were, indicating where the GLP-1 race stands today.What Goldman Sachs decided on Novo Nordisk stock after the conferenceGoldman Sachs reaffirmed its Neutral rating and $47 price target on Novo Nordisk stock after meeting management at the 47th Annual Global Healthcare Conference on June 9.The bank had lifted that target to $47 from $41 on June 3, so the conference note effectively cemented its stance, according to TipRanks data.More Pharma Stocks:Banking giant massively resets Jazz Pharma stock price targetEli Lilly scores a first in major pharma milestoneEli Lilly makes surprising retreat from major marketThe $47 figure sits about 7% above where the shares are trading at the time of writing, closing June 12 at 287.25 Danish kroner, up 1.66% on the day and about 2.9% over five sessions.Novo Nordisk’s Wegovy franchise sits at the center of Goldman Sachs’s $47 price target call.NurPhoto / Getty ImagesWhy Novo Nordisk stock fell so far before this reboundTo see why a $47 target counts as progress, you have to remember how brutal the drop was.Novo shares hit a 52-week low near $37 earlier this year, down from a high above $90, after its next-generation obesity drug CagriSema missed a key trial goal in February, TIKR reported.The company then guided to a full-year sales decline and announced a restructuring that cut roughly 9,000 jobs.It also kept losing ground to Eli Lilly, which held about 60% of the combined U.S. obesity and diabetes GLP-1 market in the first quarter against Novo’s 39%.What the Wegovy pill and Ozempic could mean for Novo’s recoveryThe most useful detail from the conference was about the market demand for the Wegovy pill.Goldman said most users are people who have never taken a GLP-1 drug before, which means the pill is growing the market, not just relying on existing patients alone.Related: Wall Street sees huge upside as Novo Nordisk backs biotech companyNovo also has Wegovy HD, a higher-strength 7.2 mg injection cleared by the FDA in March that can drive weight loss of about 21%, as disclosed in the company’s SEC filing.That gives doctors a stronger dosing option and a reason to keep prescribing Wegovy.On diabetes, Novo is leaning on the trusted Ozempic name as it rolls out an Ozempic pill in the U.S., with approval for a higher dose expected later this year.Terms and Privacy PolicyPrivacy & Cookie SettingsMore Info