Retail Traders Crown Novo Nordisk As Long-Term Weight Loss King — Even As Eli Lilly Hits $1T And Viking Fans Tout ‘M&A Prize’

• Retail traders ranked Novo Nordisk as the strongest long-term obesity play in a 1,100-vote poll.
• Users pointed to emerging drug pipelines, GLP-1 expansion and rising M&A pressure across the sector.
• Stocktwits sentiment split sharply, with bullish momentum for Novo and bearish views on Lilly, Hims and Viking.

In a crowded GLP-1 race dominated by giants, retail traders are siding with Novo Nordisk for the long haul, according to a 1,100-vote Stocktwits poll that pushes Hims & Hers, Viking Therapeutics and even $1 trillion Eli Lilly into lower slots.

Novo Nordisk Takes the Crown

Novo Nordisk took the top spot with 38% of votes as traders focused on the company’s next-generation weight-loss candidate, amycretin. In a new study, weekly injections of amycretin helped patients lose up to 14.5% of their body weight over 36 weeks, while a once-daily oral version led to up to 10.1% weight loss.

The results arrive at a pivotal moment for Novo, which earlier this week discontinued its oral semaglutide Alzheimer’s program after two late-stage trials failed to slow disease progression. HSBC downgraded Novo to ‘Hold’ after the outcome, while JPMorgan called the sharp market reaction an “overreaction,” saying the data had limited impact on its forecasts.

Novo sees amycretin as a key component of its next pipeline wave as it works to strengthen its competitive position in obesity. The company plans to begin large late-stage trials of amycretin across diabetes, obesity, sleep apnea, and knee arthritis next year, though results are not expected before 2028. 

Novo has also introduced aggressive U.S. pricing cuts for Wegovy and Ozempic, including $199 introductory self-pay pricing, as Novo works to regain ground after losing its lead in the obesity market to Eli Lilly.

Hims & Hers Becomes the Dark-Horse Challenger

Hims & Hers captured 25% of votes as retail traders bet on the company’s expanding role in GLP-1 distribution and telehealth-driven obesity care.

The company recently beat third-quarter revenue expectations and said it is in active talks with Novo Nordisk to offer Wegovy injections and an oral version through its platform. Hims already sells compounded semaglutide and expects $725 million in GLP-1 revenue in 2026, supported by a subscriber base that has grown 21% year over year to 2.47 million.

Hims reiterated its goal of reaching $6.5 billion in revenue by 2030, with CEO Andrew Dudum highlighting investments in diagnostics, lab testing, hormonal-care expansion, and international growth as key drivers.

Viking Fuels M&A Fantasy Trade

Viking received 19% of the votes amid renewed speculation following Pfizer’s victory over Novo Nordisk in the bidding war for Metsera.

Traders reignited familiar buyout chatter, with some pointing to potential $15–$20 billion bids or even a strategic partnership with UnitedHealth, while others argued Viking should remain independent, citing a valuation of over $50 billion based on peak obesity and MASH sales assumptions.

The company is developing VK2735, a dual GLP-1/GIP agonist in both injectable and oral forms. Early-phase data showed strong weight-loss and metabolic effects, reinforcing Wall Street’s enthusiasm. Canaccord recently initiated coverage with a ‘Buy’ rating and a $106 price target, citing Phase 2 efficacy and multiple differentiation points in the crowded obesity pipeline. Viking plans to meet with the FDA by year-end to advance its oral formulation into Phase 3, while Phase 3 enrollment for its injectable version remains ahead of schedule.

Eli Lilly’s $1 Trillion Muscle Not A Strong Flex?

Eli Lilly ranked fourth with 18% of the vote despite being the world’s first $1 trillion healthcare company, a milestone reached last week as investors doubled down on its leadership in the obesity-drug market.

Lilly now controls roughly 58% of the GLP-1 market, driven by Zepbound and its expanding metabolic pipeline. The company is preparing for a potential 2026 FDA decision on its experimental oral obesity drug, which Citi estimates could generate more than $40 billion in annual sales at peak. The company’s rise has been fueled by blockbuster results across GLP-1 therapies, direct-to-employer selling models, and broad clinical expansion into liver disease, hypertension, and sleep apnea.

Stocktwits Users Weigh In On GLP-1 Dominance

On Stocktwits, retail sentiment for Novo Nordisk was ‘bullish’ amid ‘high’ message volume, while sentiment for Hims & Hers, Viking Therapeutics, and Eli Lilly was ‘bearish’ amid ‘low’ to ‘normal’ message volume.

One user said they saw the obesity-drug M&A cycle accelerating, arguing that large pharma companies without GLP-1 programs may be pushed to acquire late-stage assets rather than build them. They said Viking sits at the center of that dynamic because it remains independent with advanced trials and clean safety, making it the kind of candidate major players could target, adding that “In this M&A cycle, VKTX isn’t just a contender, it’s the prize.”

Another user said, “Novo Nordisk will skyrocket. Extreme undervaluation,” while a third user claimed, “Lilly is going to continue to dominate. Retatrutide will dominate the GLP market when it goes to market.”

So far this year, Novo Nordisk’s U.S.-listed stock is down 44%, Hims & Hers is up 53%, Viking Therapeutics is down 12% and Eli Lilly is up 45%.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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