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Deutsche Bank downgrades Novo Nordisk to sell after sharp selloff

The move comes after Novo Nordisk’s shares have fallen about 70% from their peak, shifting the tone from prior analyst reluctance to recommend selling.

Reported · Written up by our desk · Fund Industry

Deutsche Bank has downgraded Novo Nordisk to sell following a steep decline in the Ozempic maker’s stock, according to MarketWatch. The downgrade marks a change in how at least some Wall Street analysts frame the outlook after the shares have dropped sharply from their peak.

MarketWatch notes that even as Novo Nordisk faced difficult conditions and the stock slid, many analysts had been reluctant to issue explicit sell recommendations. That reluctance persisted until Deutsche Bank lowered its rating on Thursday.

The report points to the scale of the drawdown, saying Novo Nordisk has fallen about 70% from its peak. The downgrade therefore lands amid continued pressure on the shares rather than after a stabilization period.

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