Novo Nordisk rose as much as 2.2% in early trading after JPMorgan raised its 2026 sales forecast for the Danish drugmaker and lifted its stock target price. According to Sina Finance, analyst Richard Vosser kept a neutral rating and said the higher Ozempic outlook reflected limited generic-drug pressure, a favorable U.S. gross-to-net adjustment in the second quarter, and stronger-than-expected Wegovy growth outside the United States.

JPMorgan said its lower forecast for oral Wegovy in 2026 only partly offset those gains, and it believes the product's U.S. launch momentum is slowing. The bank now expects Novo Nordisk's 2026 revenue to be broadly flat in local currencies, while still forecasting about 1% revenue growth in 2027. The target price was raised to 275 Danish kroner from 250 Danish kroner, and the stock was quoted at 305.35 Danish kroner at 9:05 a.m. Copenhagen time (3:06 p.m. UTC+8).