Novo Nordisk stock slipped early Friday after a JPMorgan analyst said sales of its blockbuster weight-loss drug Wegovy may be weaker-than-expected.
JPMorgan analyst Richard Vosser said the pharma giant's third-quarter report scheduled for Nov. 6 "could cause some disappointment," Bloomberg reported.
Novo Nordisk stock fell more than 2.5% in early trades.
The slump followed last week's downbeat report which also sent Novo Nordisk stock falling sharply.
The shares dropped more than 5% Sept. 20 after Novo Nordisk reported that its new approach to weight loss caused neuropsychiatric side effects.
Martin Holst Lange, Novo Nordisk's head of development, said the company still needs to "determine the optimal dosing to balance safety and (effectiveness)." Novo Nordisk is now planning to run a second midstage study in 2025.
Novo Nordisk has shed roughly 10% over the past week. The stock's Relative Strength rating has fallen from a high 85 four weeks ago to 46, according to MarketSurge.
