Shares of Novo Nordisk (NYSE: NVO) were moving higher on Wednesday. The company's stock gained 4.9% as of 1:50 p.m. ET, but gained as much as 5.8% earlier in the day. The leg up comes as the S&P 500 (SNPINDEX: ^GSPC) gained 0.

Novo Nordisk's recent decline suggests it may be a Buy again, with strong growth prospects in diabetes and obesity treatments. Click to read why NVO stock is a Buy.

KEY TAKEAWAYSNovo Nordisk's U.S.-listed shares rose 5% in intraday trading after the Ozempic and Wegovy maker's better-than-estimated quarterly results offset slower 2025 sales growth projections amid "intensifying competition.