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NVO vs. GPCR: Which Obesity Stock is the Better Buy Right Now?
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Key Takeaways
Novo Nordisk remains the GLP-1 market leader but faces slower sales and rising competition.
NVO cut its 2025 outlook amid weaker Wegovy and Ozempic trends.
GPCR readies key obesity-drug studies, with data from its aleniglipron studies expected by year-end.
Novo Nordisk (NVO - Free Report) and Structure Therapeutics (GPCR - Free Report) have emerged as noteworthy companies in the obesity space.
A market leader in the GLP-1 space, Novo Nordisk markets its semaglutide drugs under brand names Ozempic (pre-filled pen) and Rybelsus (oral tablet) for type II diabetes (T2D), and Wegovy (injection) for chronic weight management.
On the other hand, Structure Therapeutics is a clinical-stage biotech firm evaluating several obesity drugs in clinical and preclinical studies.
Though the comparison may seem mismatched given the stark contrast in size and commercial maturity between the two companies, both are innovating within the same metabolic treatment space. Investors now face a key question: Should they favor the stability and proven track record of a pharmaceutical giant or bet on a potential biotech disruptor? Let's examine the fundamentals of the two stocks to make a prudent choice.
The Case for NVO
Novo Nordisk has achieved tremendous success in the cardiometabolic treatment space, all thanks to its semaglutide medicines, Ozempic, Rybelsus and Wegovy, which are seeing great demand trends and driving top-line growth. As of June 2025-end, Novo Nordisk remained the global market leader in the GLP-1 segment, with around 52% value market share.
NVO has been investing heavily to expand its manufacturing capacity as part of its strategic move to strengthen its diabetes and obesity care market leadership for its GLP-1 products.
Novo Nordisk is pursuing new indications for its semaglutide products, including label expansions in cardiovascular and other indications. Recently, Rybelsus became the first oral therapy approved in the United States to lower the risk of major adverse cardiovascular (CV) events in high-risk T2D patients, regardless of prior CV history. In August, Wegovy received label expansion in the country for metabolic dysfunction-associated steatohepatitis (MASH). These efforts could expand the eligible patient population for semaglutide and boost sales.
However, Novo Nordisk has been facing rising competitive and operational headwinds. The company has sharply cut its 2025 sales and profit outlook, citing weaker-than-expected momentum for Wegovy and Ozempic amid competition from illegally compounded GLP-1 products and slower adoption across U.S. and international obesity markets. Competitive intensity is escalating with archrival Eli Lilly (LLY - Free Report) , which markets its tirzepatide injections under the brand names Mounjaro and Zepbound. These compete directly with Novo Nordisk’s semaglutide products. The company has also been under pressure due to disappointing data from two late-stage studies for its next-generation subcutaneous obesity candidate, CagriSema, a follow-up drug to Wegovy.
NVO is also navigating a period of leadership and governance transition. Novo Holdings, the company’s controlling shareholder, recently moved to overhaul the board following a rare public disagreement with existing directors over governance priorities. This shake-up comes only months after a major executive change, as former CEO Lars Fruergaard Jørgensen stepped down amid mounting market headwinds and a sharp decline in NVO’s stock since mid-2024. The board appointed Maziar Mike Doustdar as the new president and CEO, who took office on Aug. 7, 2025.
At a recent White House event last week, Trump signaled potential steep price cuts for the company’s GLP-1 therapies. The President stated that the prices of these drugs, once negotiated, would be “much lower,” suggesting that they could drop to around $150 out-of-pocket for Americans. While lowering the costs of Ozempic and Wegovy could greatly expand access for people living with diabetes and obesity, it also raises questions about how such a shift might affect the economics of drug development and future medical breakthroughs.
The Case for GPCR
Structure Therapeutics is one of the few biotech stocks that is evaluating more than one obesity drug in clinical development. The most advanced candidate in its pipeline is aleniglipron, an investigational GLP-1 receptor agonist, which is being developed across two mid-stage studies — ACCESS and ACCESS II — for the treatment of obesity. Data from both studies are expected before the end of this year.
GPCR also plans to initiate three new studies on aleniglipron, including one in patients with type II diabetes, before year-end 2025. These study launches are part of the company’s broader strategy to generate additional data to better position the drug against competition and support the design of a late-stage program.
Structure Therapeutics is also developing ANPA-0073, a phase II-ready APJR agonist candidate designed to enable selective, muscle-sparing weight loss. The company is currently conducting long-term chronic GLP toxicology studies on the drug, which it expects to complete by the year’s end.
Beyond these two drugs, GPCR is advancing several obesity drug candidates based on different mechanisms of action at the preclinical stage, including dual amylin and calcitonin receptor agonists (DACRA), glucose-dependent insulinotropic polypeptide receptor (GIPR) and glucagon receptor (GCGR) agonists. The company’s pipeline also includes a promising candidate for idiopathic pulmonary fibrosis (IPF).
Yet, Structure Therapeutics’ biggest challenge lies in its lack of an approved product in its portfolio and the intense competition from pharma giants that already dominate the obesity landscape.
How Do Estimates Compare for NVO & GPCR?
The Zacks Consensus Estimate for NVO’s 2025 sales indicates an increase of over 16% year over year, while the same for EPS suggests an increase of nearly 12%. EPS estimates for both 2025 and 2026 have declined over the past 30 days.
Image Source: Zacks Investment Research
Devoid of a marketed product, the consensus estimate for GPCR’s 2025 bottom line suggests loss per share to widen by nearly 31%. Loss estimates for 2025 and 2026 have remained unchanged over the past 30 days.
Image Source: Zacks Investment Research
Price Performance and Valuation of NVO & GPCR
Year to date, shares of NVO have plummeted 38%, while those of GPCR have lost 2%. In comparison, the industry has risen over 9%, as seen in the chart below.
Image Source: Zacks Investment Research
From a valuation standpoint, Novo Nordisk seems to be more expensive than Structure Therapeutics, going by the price/book (P/B) ratio. NVO’s shares currently trade at 9.30 times trailing book value, higher than 1.98 for GPCR.
Image Source: Zacks Investment Research
NVO or GPCR: Which is a Better Pick?
While Novo Nordisk continues to lead the global GLP-1 market, the company is navigating several near-term challenges, including intensifying competition from Eli Lilly, guidance cuts and leadership transitions. These factors have weighed on investor sentiment, a steep decline in share value over the past year.
In contrast, Structure Therapeutics, despite being a clinical-stage biotech with no marketed products, could see increased investor interest ahead of several key catalysts. The upcoming mid-stage data readouts for aleniglipron and the planned study initiations across its obesity and metabolic pipeline are pivotal for the company’s prospects.
Though both stocks remain sensitive to competitive dynamics and data outcomes in the rapidly evolving obesity-treatment landscape, we currently believe GPCR is a safer bet in the near term. This is also reinforced by the stock’s favorable standing in the Zacks Rank framework, with Structure Therapeutics carrying a Zacks Rank #3 (Hold) versus Novo Nordisk’s Zacks Rank #4 (Sell).
Image: Bigstock
NVO vs. GPCR: Which Obesity Stock is the Better Buy Right Now?
Key Takeaways
Novo Nordisk (NVO - Free Report) and Structure Therapeutics (GPCR - Free Report) have emerged as noteworthy companies in the obesity space.
A market leader in the GLP-1 space, Novo Nordisk markets its semaglutide drugs under brand names Ozempic (pre-filled pen) and Rybelsus (oral tablet) for type II diabetes (T2D), and Wegovy (injection) for chronic weight management.
On the other hand, Structure Therapeutics is a clinical-stage biotech firm evaluating several obesity drugs in clinical and preclinical studies.
Though the comparison may seem mismatched given the stark contrast in size and commercial maturity between the two companies, both are innovating within the same metabolic treatment space. Investors now face a key question: Should they favor the stability and proven track record of a pharmaceutical giant or bet on a potential biotech disruptor? Let's examine the fundamentals of the two stocks to make a prudent choice.
The Case for NVO
Novo Nordisk has achieved tremendous success in the cardiometabolic treatment space, all thanks to its semaglutide medicines, Ozempic, Rybelsus and Wegovy, which are seeing great demand trends and driving top-line growth. As of June 2025-end, Novo Nordisk remained the global market leader in the GLP-1 segment, with around 52% value market share.
NVO has been investing heavily to expand its manufacturing capacity as part of its strategic move to strengthen its diabetes and obesity care market leadership for its GLP-1 products.
Novo Nordisk is pursuing new indications for its semaglutide products, including label expansions in cardiovascular and other indications. Recently, Rybelsus became the first oral therapy approved in the United States to lower the risk of major adverse cardiovascular (CV) events in high-risk T2D patients, regardless of prior CV history. In August, Wegovy received label expansion in the country for metabolic dysfunction-associated steatohepatitis (MASH). These efforts could expand the eligible patient population for semaglutide and boost sales.
However, Novo Nordisk has been facing rising competitive and operational headwinds. The company has sharply cut its 2025 sales and profit outlook, citing weaker-than-expected momentum for Wegovy and Ozempic amid competition from illegally compounded GLP-1 products and slower adoption across U.S. and international obesity markets. Competitive intensity is escalating with archrival Eli Lilly (LLY - Free Report) , which markets its tirzepatide injections under the brand names Mounjaro and Zepbound. These compete directly with Novo Nordisk’s semaglutide products. The company has also been under pressure due to disappointing data from two late-stage studies for its next-generation subcutaneous obesity candidate, CagriSema, a follow-up drug to Wegovy.
NVO is also navigating a period of leadership and governance transition. Novo Holdings, the company’s controlling shareholder, recently moved to overhaul the board following a rare public disagreement with existing directors over governance priorities. This shake-up comes only months after a major executive change, as former CEO Lars Fruergaard Jørgensen stepped down amid mounting market headwinds and a sharp decline in NVO’s stock since mid-2024. The board appointed Maziar Mike Doustdar as the new president and CEO, who took office on Aug. 7, 2025.
At a recent White House event last week, Trump signaled potential steep price cuts for the company’s GLP-1 therapies. The President stated that the prices of these drugs, once negotiated, would be “much lower,” suggesting that they could drop to around $150 out-of-pocket for Americans. While lowering the costs of Ozempic and Wegovy could greatly expand access for people living with diabetes and obesity, it also raises questions about how such a shift might affect the economics of drug development and future medical breakthroughs.
The Case for GPCR
Structure Therapeutics is one of the few biotech stocks that is evaluating more than one obesity drug in clinical development. The most advanced candidate in its pipeline is aleniglipron, an investigational GLP-1 receptor agonist, which is being developed across two mid-stage studies — ACCESS and ACCESS II — for the treatment of obesity. Data from both studies are expected before the end of this year.
GPCR also plans to initiate three new studies on aleniglipron, including one in patients with type II diabetes, before year-end 2025. These study launches are part of the company’s broader strategy to generate additional data to better position the drug against competition and support the design of a late-stage program.
Structure Therapeutics is also developing ANPA-0073, a phase II-ready APJR agonist candidate designed to enable selective, muscle-sparing weight loss. The company is currently conducting long-term chronic GLP toxicology studies on the drug, which it expects to complete by the year’s end.
Beyond these two drugs, GPCR is advancing several obesity drug candidates based on different mechanisms of action at the preclinical stage, including dual amylin and calcitonin receptor agonists (DACRA), glucose-dependent insulinotropic polypeptide receptor (GIPR) and glucagon receptor (GCGR) agonists. The company’s pipeline also includes a promising candidate for idiopathic pulmonary fibrosis (IPF).
Yet, Structure Therapeutics’ biggest challenge lies in its lack of an approved product in its portfolio and the intense competition from pharma giants that already dominate the obesity landscape.
How Do Estimates Compare for NVO & GPCR?
The Zacks Consensus Estimate for NVO’s 2025 sales indicates an increase of over 16% year over year, while the same for EPS suggests an increase of nearly 12%. EPS estimates for both 2025 and 2026 have declined over the past 30 days.
Image Source: Zacks Investment Research
Devoid of a marketed product, the consensus estimate for GPCR’s 2025 bottom line suggests loss per share to widen by nearly 31%. Loss estimates for 2025 and 2026 have remained unchanged over the past 30 days.
Image Source: Zacks Investment Research
Price Performance and Valuation of NVO & GPCR
Year to date, shares of NVO have plummeted 38%, while those of GPCR have lost 2%. In comparison, the industry has risen over 9%, as seen in the chart below.
Image Source: Zacks Investment Research
From a valuation standpoint, Novo Nordisk seems to be more expensive than Structure Therapeutics, going by the price/book (P/B) ratio. NVO’s shares currently trade at 9.30 times trailing book value, higher than 1.98 for GPCR.
Image Source: Zacks Investment Research
NVO or GPCR: Which is a Better Pick?
While Novo Nordisk continues to lead the global GLP-1 market, the company is navigating several near-term challenges, including intensifying competition from Eli Lilly, guidance cuts and leadership transitions. These factors have weighed on investor sentiment, a steep decline in share value over the past year.
In contrast, Structure Therapeutics, despite being a clinical-stage biotech with no marketed products, could see increased investor interest ahead of several key catalysts. The upcoming mid-stage data readouts for aleniglipron and the planned study initiations across its obesity and metabolic pipeline are pivotal for the company’s prospects.
Though both stocks remain sensitive to competitive dynamics and data outcomes in the rapidly evolving obesity-treatment landscape, we currently believe GPCR is a safer bet in the near term. This is also reinforced by the stock’s favorable standing in the Zacks Rank framework, with Structure Therapeutics carrying a Zacks Rank #3 (Hold) versus Novo Nordisk’s Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.