Novo Nordisk Stock Suffers After C-Suite Shakeup

Novo Nordisk is down over 50% year-over-year

Patrick Martin

Managing Editor

May 16, 2025 at 9:59 AM

Novo Nordisk A/S (NYSE:NVO) is down 3.9% to trade at $63.60 this morning, after a C-suite shakeup. CEO Lars Fruergaard Jørgensen will be stepping down, citing market challenges and increased competition. Sector peer Eli Lilly (LLY) is higher in response to the news, as is compounding pharmacist Hims & Hers Health (HIMS).

The Danish drugmaker -- known for the widely popular but controversial weight-loss drug Wegovy -- is down 50% year-over-year. A confluence of moving averages have guided NVO lower all year, including the 50-day trendline after a bounce off April 5 three-year low of $57.

If the shares continue their lackluster price action, analyst adjustments could add more pressure. Of the 18 brokerages covering NVO, eight still maintain "strong buy" ratings, while the consensus 12-month price target of $95.06 is a 43.7% premium to its current perch.

Options are affordably priced, per the equity's Schaeffer's Volatility Index (SVI) of 45% that ranks in the 23rd percentile of its annual range, meaning options traders are pricing in low volatility expectations at the moment. Plus, with a Schaeffer's Volatility Scorecard (SVS) at a 80 out of 100, NVO has a history of exceeding option trader's volatility expectations during the past year.

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