12 Most Profitable Large Cap Stocks to Buy Right Now

6. Novo Nordisk (NYSE:NVO)

Market Capitalization as of November 21: $160.45 billion

TTM Net Income as of November 21: $16.32 billion

TTM Net Income Margin as of November 21: 32.88%

Number of Hedge Fund Holders: 45

Average Upside Potential as of November 21: 41.16%

Novo Nordisk (NYSE:NVO) is one of the most profitable large cap stocks to buy right now. On November 10, Novo Nordisk announced new post hoc analysis data from the ESSENCE Phase 3 trial regarding the company’s drug, Wegovy (semaglutide 2.4 mg), for adult patients with metabolic dysfunction-associated steatohepatitis/MASH and liver scarring (fibrosis). The results suggested that semaglutide 2.4 mg was associated with liver health-related benefits that were not solely dependent on weight loss.

The ongoing ESSENCE trial is a two-part Phase 3 trial evaluating the effect of once-weekly subcutaneous semaglutide 2.4 mg in adults with MASH and moderate-to-advanced liver fibrosis (stage F2 or F3). Part 1 focused on demonstrating improved liver histology at 72 weeks in the first 800 patients. The primary objective of the ongoing Part 2 is to demonstrate that semaglutide 2.4 mg lowers the risk of liver-related clinical events at 240 weeks. The expected readout for Part 2 is in 2029.

MASH is a serious and progressive metabolic disease that affects over 250 million people worldwide. The number of individuals in advanced stages is expected to increase by over 160% from 2015 to 2030. Semaglutide 2.4 mg is a glucagon-like peptide-1 receptor agonist (GLP-1 RA) and has received accelerated FDA approval to treat adults with MASH with moderate-to-advanced liver scarring, excluding cirrhosis, in conjunction with diet and exercise.

Novo Nordisk (NYSE:NVO) engages in the research and development, manufacture, and distribution of pharmaceutical products internationally. It operates in two segments: Diabetes & Obesity Care and Rare Disease.