Danish drugmaker sells Parkinson cell therapy asset to focus on metabolic disease, as Hedgeye sees 52-117% upside and new obesity data boosts oral semaglutide strategy.

The Danish drugmaker has formally closed the chapter on cell therapy, selling off its final experimental Parkinson’s programme to focus squarely on the metabolic disease pipeline. The move, announced on 12 May, comes as a fresh analyst call assigns the stock significant upside potential and new clinical data from the obesity field adds weight to the company’s oral semaglutide strategy.

Novo Nordisk transferred the STEM-PD Parkinson cell therapy asset — which held FDA fast-track designation — to Cellular Intelligence, an AI-driven biotechnology firm. Financial terms were not disclosed, but the company will receive an equity stake in the acquirer and potential milestone payments. The divestiture completes a retreat from cell therapy that had been signalled as early as the end of 2025, allowing the group to channel resources entirely into its core metabolism franchise, particularly the GLP-1 portfolio.

On the same day, research house Hedgeye initiated coverage with a bullish call, projecting an upside of 52% to 117%. The analysts point to a stark valuation gap: Novo Nordisk’s shares trade at a price-to-earnings ratio of roughly 13.6, well below the sector average of 16.8. Hedgeye’s earnings per share estimate of $5.06 for fiscal 2026 far outstrips the consensus figure of $3.55, driven by expectations that monthly oral obesity prescriptions in the US will reach 3.6 million by the end of next year.

Should investors sell immediately? Or is it worth buying Novo Nordisk?

Clinical ammunition for that thesis arrived at the European Congress on Obesity in Istanbul. Data from the Phase?3 OASIS?4 and STEP?UP studies showed that 27% of patients taking Wegovy at the high 7.2?mg dose lost at least 15% of their body weight within 24 weeks. Among early responders to the oral semaglutide pill, the average weight reduction reached 21.6% over 64 weeks. With more than two million patients already using the oral version, the findings could help refine treatment protocols and strengthen the drug’s competitive position.

The shares have rallied sharply from the March low of €30.48 but remain under pressure over longer timeframes. At around €40.15, the stock is up roughly 20% on a one-month view yet still trails the 200-day moving average of €42.41. The year-to-date decline stands at 10.15%, and the 12-month drop is 30.66%. Technically, a sustained close above the $47 mark would signal a buy, with the next target near $54, according to Hedgeye. The stock currently sits about 18% above its 50-day average, suggesting the recent recovery has momentum but faces resistance.

Separately, a routine disclosure filed on 13 May drew attention to two small share transfers. Caroline Munk Esbjerg and Sofie Munk Esbjerg, persons closely associated with the chief financial officer, each received 50 B-shares as a gift on 7 May. The reference prices were DKK?294.30 and DKK?294.25, giving each transfer a value of roughly DKK?14,700. While the transaction is reportable under EU market abuse rules, the sums are trivial and do not reflect any insider buying or a shift in management sentiment. The stock closed virtually flat on the day.

The convergence of a strategic portfolio cleanup, an optimistic analyst call, and encouraging clinical evidence provides a more coherent narrative for Novo Nordisk than the share gifts alone. The pivotal question now is whether weekly US prescription data for oral semaglutide can sustain the recent price recovery and narrow the valuation gap relative to the sector.

Ad

Novo Nordisk Stock: New Analysis – 14 May

Fresh Novo Nordisk information released. What’s the impact for investors? Our latest independent report examines recent figures and market trends.

Read our updated Novo Nordisk analysis…