HomeMarket NewsThe Evolving Landscape of Weight-Loss Stocks in 2024

The Evolving Landscape of Weight-Loss Stocks in 2024

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Investing in weight-loss stocks is akin to navigating a sea of opportunities, riding the waves of a burgeoning total addressable market set to swell exponentially by 2030.

Novo Nordisk: Riding the Strength-Begetting-Strength Wave

Novo Nordisk logo on a corporate building

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Novo Nordisk (NYSE:NVO) stands out as a beacon in the realm of top weight-loss stocks. With 33% market value gains this year and a remarkable 92% spike over the past 52 weeks, NVO exudes vitality. Although analysts predict a modest upside risk, recent momentum suggests otherwise. Investors are enthused by the revolutionary phase 1 trial data for Amycretin, delivering exceptional weight loss results. Projections for 2024 and 2025 revenues at $41.57 billion and $49.33 billion, respectively, paint a promising picture. Novo Nordisk’s transformative phase positions NVO solidly among the weight-loss stock elite.

Amgen: Mining for Gold in the Shadows

AMGN1600

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Dark horse Amgen (NASDAQ:AMGN) enters the weight-loss stock race with quiet confidence. Despite a recent 8% dip in equity value this year, a 19% gain over the past 52 weeks hints at underlying strength. Early-stage human trials for an experimental obesity drug have yielded significant weight loss rates with an acceptable safety record. Forecasts for 2024 sales of $33.02 billion mark a potential 17.1% uptick, with expectations of $34.16 billion in 2025 indicating a 3.4% rise. Priced at a moderate 15.19X earnings without non-recurring items, Amgen’s estimated upside potential of 14% presents an intriguing proposition for astute investors.

Pfizer: Navigating the Tides of Uncertainty

blue Pfizer logo on the windows of a corporate building PFR stock

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Pfizer (NYSE:PFE) emerges as a wildcard in the weight-loss stock arena, navigating through turbulent waters post-Covid-19 glory. Despite setbacks with its oral weight-loss drug, Pfizer’s once-daily alternative remains under development. Analysts envisage a moderate buy for PFE, with an average price target of $31.18 signaling a potential 16% leap. Bold speculators eye a high-side target of $45, projecting a staggering 68% growth. Pfizer’s comeback narrative may hold untapped potential in the weight-loss stock saga.

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The expressed opinions are those of the writer, adhering to the InvestorPlace.com Publishing Guidelines.

A former senior business analyst for Sony Electronics, Josh Enomoto brings a wealth of experience in navigating market trends and insights. With a knack for uncovering investment gems, Josh delivers sharp analyses catering to a diverse range of industries. Connect with him on Twitter at @EnomotoMedia.

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