Novo Nordisk reports CagriSema data: HSBC sets DKK 280 target for Novo Nordisk stock

Published on 10/21/2026 at 10:06 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

On October 20, CagriSema cut weight 25.00 percent in 2,309 women at week 68. Novo Nordisk stock costs EUR 34.83, 0.49 percent below Xetra close.

CagriSema data and analyst target

CagriSema was associated with 25.00 percent weight loss in women at week 68 on October 20, 2026.
HSBC lowered its Novo Nordisk target to DKK 280 from DKK 320 on October 19, 2026.
Novo Nordisk stock trades at EUR 34.83 at 10:02 a.m. CEST at Lang & Schwarz on October 21, 2026, 0.49 percent below the Xetra close of October 20, 2026.

Kopenhagener Hafen mit Brücken, Aquarell in Pastelltönen, nordische Atmosphäre — Novo Nordisk A/S (DK0062498333): Kopenhagener Hafenpanorama mit historischen Brücken in weichen Aquarell-Pastelltönen gemalt, Illustration mit AI erstellt.

Novo Nordisk reported that investigational CagriSema was associated with average weight loss of 25.00 percent at week 68 in 2,309 women, according to Reuters on October 20, 2026. The result was compared with 3.00 percent for placebo and came from a post hoc analysis of the REDEFINE 1 study.

CagriSema data add a new test

The result gives Novo Nordisk a fresh clinical data point for its next-generation obesity treatment, but the analysis was exploratory. Reuters reported that the full trial produced 22.70 percent average weight loss, below Novo Nordisk's 25.00 percent target, while the post hoc analysis covered women who remained on treatment.

A company release carried by Yahoo Finance said the menopause analysis covered 1,902 women. Average weight loss reached 26.70 percent among premenopausal women, 24.80 percent among perimenopausal women and 23.10 percent among postmenopausal women at week 68.

What does the target cut mean?

HSBC lowered its target for Novo Nordisk to DKK 280 from DKK 320 on October 19, 2026, while retaining a Hold rating, MarketScreener reported. The target change contrasts with the clinical signal because investors still have to weigh post hoc evidence against competitive and regulatory execution risks.

Three dated developments

On August 4, 2026, Novo Nordisk reported adjusted second-quarter sales of DKK 78.488 billion, up 7.00 percent at constant exchange rates, and adjusted operating profit of DKK 33.389 billion, up 11.00 percent, according to Globenewswire. On October 19, 2026, HSBC set its DKK 280 target after the previous DKK 320 level. On October 20, 2026, the CagriSema analysis showed 25.00 percent weight loss against 3.00 percent for placebo.

Dates and price context

Novo Nordisk's next quarterly communication is scheduled for November 4, 2026, according to the dated company calendar shown by BoersenNEWS. For investors, the key comparison is between the clinical evidence and the earnings update that follows it.

Stock price stays under pressure

Novo Nordisk stock was trading at EUR 34.83 at Lang & Schwarz on October 21, 2026 at 10:02 a.m. CEST, 0.49 percent below the Xetra close of October 20, 2026 at EUR 35.00. That price movement is modest beside the company's clinical and analyst developments, so the next reported operating figures remain important for judging whether the revised outlook is gaining support. The further course of trading is shown by the continuously updated real-time quote of Novo Nordisk stock.