Shares of Novo Nordisk (NYSE: NVO) are falling this week, down 33% as of 3:27 p.m. ET on Friday. The drop comes as the S&P 500 lost 2.4%, and the Nasdaq-100 lost 2.2%. The Danish pharmaceutical giant's stock was hit after it released disappointing earnings showing that sales of its blockbuster GLP-1 drugs remain weaker than hoped.

U.S.-listed shares of Novo Nordisk fell sharply for a second straight day Wednesday, this time after Bank of America downgraded the stock to "neutral" from "buy."

Fintel reports that on July 31, 2025, HSBC downgraded their outlook for Novo Nordisk A (NYSE:NVO) from Buy to Hold. Analyst Price Forecast Suggests 110.20% Upside As of July 17, 2025, the average one-year price target for Novo Nordisk A is $98.