Novo Nordisk (NVO) Stock Jumps After Q1 Earnings Crush Estimates on Oral Wegovy Success

Key Takeaways

• Novo Nordisk delivered first-quarter revenue of $15.17 billion, significantly exceeding Wall Street’s projection of $11.13 billion.
• The company posted adjusted earnings per share of $1.04, surpassing the consensus estimate of $0.87.
• Its oral Wegovy medication, which debuted on January 5, 2026, has accumulated more than 2 million total prescriptions and brought in over DKK 2.2 billion during the first quarter.
• The Danish pharmaceutical manufacturer upgraded its 2026 forecast, now projecting sales and operating profit declines of 4%–12%, better than the previous 5%–13% guidance.
• Shares of NVO gained approximately 1% following the announcement, though the stock remains down roughly 40% year-over-year.

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Novo Nordisk (NVO) shares advanced Wednesday following the pharmaceutical giant’s announcement of impressive first-quarter financial results and an upgraded annual forecast, propelled by robust initial reception of its oral Wegovy tablet.

NVO shares climbed about 1% in Wednesday trading as investors digested the earnings report. While the stock has experienced modest gains since late March, it continues to lag significantly over a 12-month period with a decline approaching 40% — a stark divergence from competitor Eli Lilly, which has posted approximately 18% gains during the same timeframe.

Novo Nordisk A/S, NVO

First-quarter revenue totaled $15.17 billion, substantially exceeding analyst projections of $11.13 billion. The company’s adjusted earnings per share of $1.04 sailed past the $0.87 consensus estimate. Operating profit reached DKK 32.86 billion, surpassing the mean analyst forecast of DKK 28.74 billion compiled by the company.

The robust quarterly performance provided a measure of respite following a challenging 12-month period. During the past year, the company has confronted setbacks including underwhelming clinical trial outcomes for its next-generation obesity treatment, revenue shortfalls, and a dramatic stock decline that wiped out more than $400 billion in market capitalization from its 2024 high-water mark.

Oral Wegovy Tablet Powers Quarterly Outperformance

The oral version of Wegovy emerged as the quarter’s headline achievement. Following its U.S. market debut on January 5, 2026, the tablet garnered over 1.3 million filled prescriptions during the first quarter alone. Cumulative prescriptions have already exceeded 2 million since the product launch. The pill generated revenue exceeding DKK 2.2 billion in its inaugural quarter of availability.

This oral formulation provides Novo with an additional competitive avenue in the obesity treatment market against Eli Lilly, especially appealing to patients who favor a daily tablet over weekly injections.

Yet Novo’s exclusive position as the sole provider of an oral obesity pill in the United States proved short-lived. Early in April, Eli Lilly secured FDA authorization for its rival oral medication, Foundayo, intensifying the competition between these pharmaceutical heavyweights.

Lilly recently elevated its own annual profit and revenue projections, citing explosive demand for its weight-loss and diabetes portfolio.

Upgraded Outlook Amid Ongoing Challenges

Novo revised its 2026 financial projections, now anticipating adjusted sales and operating profit will decline 4% to 12% at constant exchange rates. This represents an improvement from the company’s earlier projection of -5% to -13%.

CEO Mike Doustdar, who assumed leadership last year, attributed the enhanced guidance to the Wegovy pill’s strong market reception and expansion in international markets.

Nevertheless, the organization continues grappling with persistent pricing pressures stemming from last year’s price reductions for its injectable Wegovy formulation. Profit margins remain under considerable stress.

Wall Street analysts tracked by TipRanks maintain a consensus Hold rating on the stock, comprising one Buy recommendation and seven Hold ratings. The average analyst price target stands at $43.00, approximately 4% below NVO’s Wednesday morning trading level.

Analyst coverage and price projections are anticipated to be refreshed over the coming days as firms respond to today’s earnings release.

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