Why Novo Nordisk Stock Popped After Earnings
Buying Novo Nordisk stock looks like the cheapest way to invest in GLP-1 drugs.
GLP-1 drugmaker Novo Nordisk's (NYSE: NVO) stock jumped at the open and remains up 3.2% as of 10:20 a.m. ET after the company reported earnings this morning.
Novo reported smaller-than-expected Q1 sales and lowered its forecast for the rest of the year. Investors seem more interested in comments about the chances Wegovy sales will improve later this year through the company's partnership with Hims & Hers Health (NYSE: HIMS) as other GLP-1 compounders are driven out of the market.
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