Down 39%. Is Novo Nordisk Stock a Buy on the Dip?
Novo Nordisk (NYSE: NVO) shareholders know all about the ups and downs of pharmaceutical stock investing. From the beginning of the coronavirus pandemic through the middle of last June, shares of NovoNordisk delivered more than a five-fold return.Unfortunately, shares of the company behind Ozempic have been trading about 39% below last year's peak. Now that it's been beaten down, investors who missed out on its big run-up might be wondering if it's finally the right time to start a position.Here's a look at what made Novo Nordisk a top performer up until last summer. I'll also examine reasons the stock fell hard over the past eight months to see if upcoming catalysts can be expected to propel the beaten-down stock to new heights.Continue reading
Novo Nordisk (NYSE: NVO) shareholders know all about the ups and downs of pharmaceutical stock investing. From the beginning of the coronavirus pandemic through the middle of last June, shares of NovoNordisk delivered more than a five-fold return.
Unfortunately, shares of the company behind Ozempic have been trading about 39% below last year's peak. Now that it's been beaten down, investors who missed out on its big run-up might be wondering if it's finally the right time to start a position.
Here's a look at what made Novo Nordisk a top performer up until last summer. I'll also examine reasons the stock fell hard over the past eight months to see if upcoming catalysts can be expected to propel the beaten-down stock to new heights.
