Why Novo Nordisk’s Setback Could Be Its Biggest Opportunity Yet

$244 billion wiped out. The CEO is gone. Half the board just quit.

And now, Novo Nordisk has exactly two weeks to prove it's not falling apart.

On November 5, before the market opens, Novo Nordisk will report Q3 2025 earnings. 

Everyone, from the 46 million patients depending on its drugs to the investors, will be looking for one thing: proof that this company can still compete.

Here's what we know. 

Let's look at where things stand right now.

Think of the P/E ratio at 14, Novo is actually trading below its historical average, which used to hover around 25. 

$NVO ( ▼ 0.45% ) is down about 38% YTD, which puts it among the worst performers in its industry.

But here's the thing: sometimes, lower prices create fair entry points for long-term investors.

Wall Street expects earnings of EPS $0.78 for Q3. 

But remember, this is the same company that delivered 18% sales growth and 29% profit growth in the first half of 2025.

The catch? 

They lowered their full-year outlook because Wegovy sales in the U.S. haven't been as strong as expected. 

Competition is heating up, especially from Eli Lilly's $LLY competing drugs.

This is where it gets interesting. 

The average analyst price target sits at $80.40, which suggests about 45% upside from current price $53.40 (October 22, 2025). Targets range from a low of $47 to a high of $160.

Goldman Sachs analyst James Quigley says to expect flat U.S. Ozempic sales, but strong international growth could offset domestic weakness. One analyst noted that Novo is focusing more on reimbursed medical and direct-to-consumer channels, which could help stabilize things.

But there's a twist. 

Jørgensen stepped down as CEO in May 2025 after $NVO declined. 

And just this week, Chairman Helge Lund and more than half the board resigned following a dispute with the company's largest shareholder over the pace of change needed at the company.

Here's what makes this complicated. 

Novo Nordisk now serves almost 46 million patients with diabetes and obesity treatments. International obesity care sales jumped 125%, even as U.S. growth slowed.

One market observer put it this way: the company operates in "a lucrative market that is rapidly expanding" and its "strong year-over-year revenues and profits, fueled by rising demand for Wegovy and Ozempic, suggest long-term potential."

Save the Date: November 5

Pay attention to these things when earnings drop:

Some analysts see the upcoming Q3 earnings as a "critical catalyst that could restore confidence and drive a sustained stock recovery."

Novo isn't some struggling company. It's a market leader dealing with growing pains and fierce competition. The stock's taken a beating, which means expectations are lower. Sometimes that's exactly when opportunities appear.

And that’s why we’re adding $NVO to our portfolio.
With strong fundamentals, global reach, and a key role in one of the fastest-growing health markets on Earth, Novo Nordisk fits our strategy for long-term growth opportunities at discounted prices. The next earnings report could mark the beginning of its comeback — and we want to be there early.

But remember, investing in individual stocks, especially in healthcare, comes with real risks. What looks cheap today could get cheaper if competition intensifies or if new data disappoints. 

The November 5 earnings report will tell us whether Novo can turn things around. 

Either way, it's a critical moment for one of the world's most important pharmaceutical companies.

Disclaimer: This is not financial or investment advice. Do your own research and consult a qualified financial advisor before investing.

Trader Insights Media tracks thousands of companies every week using rigorous financial analysis.

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