Here’s why Ozempic stock is soaring today

With its moat of widely popular direct and roundabout weight-loss drugs Ozempic and Wegovy preserved, the Danish medical giant Novo Nordisk (NYSE: NVO) saw its stock price fly early on Monday, February 9.

Specifically, NVO shares are up 8.26% in the Copenhagen stock exchange and 7.05% up in the New York pre-market, effectively ending the deep retracement that started affecting the equity late in January and led to, by the most recent closing bell in the U.S. on February 6, a total 25% value drop.

The rally came as the American telehealth company, Hims & Hers Health Inc (NYSE: HIMS), decided to pull its Wegovy copycat drug, following a dispute with Novo Nordisk that involved threats of legal action from the Danish firm.

HIMS stock is, at the same time, in the Monday pre-market, down 15.38% from its latest closing price of $23.02 to its February 9 press time price of $19.48.

Why Ozempic and Wegovy are critical for NVO stock

The latest stock market moves are hardly surprising, considering the importance of Ozempic, Wegovy, and Rybelsus – a drug that helps blood sugar control in adults suffering from type 2 diabetes – cannot be overstated. 

Specifically, Novo Nordisk recently reported its total 2025 revenue amounted to approximately $46.8 billion, with the three weight-loss and diabetes-related drugs accounting for a staggering $35.6 billion.

Though all three are as important as they are popular, much of Novo Nordisk’s current standing with the public is tied to Ozempic, which is widely seen as a top weight-loss drug due to the numerous and popular online memes. 

Still, despite its reputation, it is worth noting that Ozempic is primarily a diabetes drug and is only prescribed for weight loss due to its side effects.

Wegovy, the pill critical for NVO stock’s latest rally, is the dedicated medicine for helping people reduce their weight.

Wall Street sets Ozempic stock 12-month price target

Lastly, despite the Monday rally, Novo Nordisk’s stock market outlook remains somewhat ambiguous for 2026. At press time on February 9 and through the company’s strong 2025 results, Wall Street analysts are not entirely convinced regarding the company.

NVO shares are overall rated as ‘Moderate Buy,’ with an average 12-month price target of $56.83 – substantially above both the equity’s latest closing price and the press time price, but below the current 2026 high of about $63.

Still, the latest retreat from competitor Hims & Hers has not been accounted for by institutional experts, with the most recent revision being recorded on February 5, and the ongoing week could drastically alter the forecasts.

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