UBS lifted its 12-month price target for Novo Nordisk to 390 Danish crowns from 295, citing valuation shifts and investor anticipation for the Wegovy pill launch. The bank maintained a Neutral rating, noting the stock's premium versus European peers reflects its historic sector standing.

Analysts expect initial prescription data to be muted, as key channels like NovoCare and telehealth won't fully contribute until later in Q1. Early insurance coverage is also constrained by prior authorizations, mirroring the slower ramp seen with injectable Wegovy and Eli Lilly's Zepbound.

UBS forecasts about 400,000 Wegovy pill prescriptions for the first quarter, with peak sales potentially reaching $3.25 billion—far below the injectable's $16 billion projection. The lower figure reflects concerns about long-term patient persistence and a rollout focused primarily on the U.S. market.