Pharmaceutical powerhouse Novo Nordisk (NYSE:NVO) is charging 3.1% higher to trade at $54.10, after its weight-loss drug Wegovy landed Food and Drug Administration (FDA) approval to be used in the treatment of liver disease in the U.S.
Today's pop comes just weeks after the company slashed its 2025 profit outlook and appointed a new CEO, resulting in a 21.8% bear gap on July 29, its worst drop on record. NVO is off 39% in 2025, with the $50 level moving in as a floor of support.
Short-term traders have been sporting a put-bias, meaning a shift in sentiment could trigger tailwinds. This is per the security's Schaeffer's put/call open interest ratio (SOIR) of 1.10, which stands in the 99th percentile of readings from the past 12 months.
There also looks to be ample room for upgrades. Heading into today, 14 of the 20 brokerages in coverage sport a "hold" or worse recommendation. Should this sentiment begin to unwind, it could see more bulls enter the ring.
It's also worth noting that the stock has tended to outperform these volatility expectations, per its Schaeffer's Volatility Scorecard (SVS) of 87 out of 100.
