Could a 224% Surge at Inovio (NASDAQ:INO) and a Wegovy Pill Launch at Novo Nordisk (NYSE:NVO) Reset Pfizer (NYSE:PFE) and Stevanato Group (NYSE:STVN)?

Vinay Lochav

05 November 2026 12:49 AM AEDT

Could a 224% Surge at Inovio (NASDAQ:INO) and a Wegovy Pill Launch at Novo Nordisk (NYSE:NVO) Reset Pfizer (NYSE:PFE) and Stevanato Group (NYSE:STVN)?

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Key Highlights

Novo Nordisk (NYSE:NVO) reported third-quarter net sales of DKK 79,195 million, up 4% at constant exchange rates, with Wegovy pill sales of DKK 5,394 million, and its shares rose about 5% to 6% early on November 4, 2026.
Pfizer (NYSE:PFE) raised 2026 Revenue guidance to USD 62.0 billion to USD 64.0 billion from USD 60.5 billion to USD 62.5 billion, yet its shares fell about 2.2% on November 3.
Stevanato Group (NYSE:STVN) fell about 24% to 26% on November 3 after guiding low single-digit revenue growth for 2027, with GLP-1 products making up about 17% to 18% of third-quarter revenue.
Inovio (NASDAQ:INO) was up roughly 224% on November 2 after the FDA granted Accelerated Approval to VOCERYQ for recurrent respiratory papillomatosis.

Novo Nordisk (NYSE:NVO): Adjusted Profit Up, Reported Profit Down

Novo Nordisk (NYSE:NVO) published third-quarter results on November 4, 2026, and early trading showed the shares up roughly 5% to 6%. Net sales of DKK 79,195 million rose 4% at constant exchange rates. Adjusted operating profit of DKK 31,720 million climbed 27%, helped by a weak comparison base that included about DKK 9 billion of transformation costs in the third quarter of 2025. Wegovy pill sales were DKK 5,394 million, following launches in the US, the UAE, the UK and Germany, with four more countries added since. Reported operating profit fell 3% to DKK 23,011 million after DKK 8.7 billion of non-cash impairments, made up of DKK 4.6 billion on ziltivekimab and DKK 4.1 billion tied to reshaping the Manufacturing network. The company lifted its 2026 outlook to adjusted sales growth and adjusted operating profit growth of minus 2% to plus 2% at constant rates, a flat range that describes a stabilising year. The release does not state the prior ranges, so the size of the raise cannot be measured. Competition from a larger rival in obesity, pricing pressure, Supply and launch costs and Impairment charges are the main risks. A share repurchase programme started on May 6, 2026, and Novo also has a Danish listing, so currency moves matter.

Pfizer (NYSE:PFE): A Higher Revenue Guide, Flat Adjusted Earnings

Pfizer (NYSE:PFE) reported third-quarter results on November 3, 2026. Revenue of USD 16,583 million compares with USD 16,654 million a year earlier, and adjusted Earnings of USD 0.87 a share were unchanged from a year earlier, though above a single published estimate of USD 0.73. Reported diluted earnings were USD 0.56 against USD 0.62. The company raised 2026 revenue guidance to USD 62.0 billion to USD 64.0 billion and narrowed adjusted earnings guidance to USD 2.95 to USD 3.05 from USD 2.80 to USD 3.00. Growth excluding Comirnaty and Paxlovid was 7% on an operational basis, with launched and acquired products up 32%, while Paxlovid fell USD 771 million, or 63%. Restructuring charges were USD 742 million in the quarter and USD 1,167 million for nine months. The shares closed down about 2.2%, which suggests investors wanted stronger growth than a beat against a low bar. Eliquis added USD 513 million, more than any other single product change, and pipeline updates and cost savings are what investors will watch. Reported earnings fell while adjusted earnings were flat, so the Quality of Earnings is a theme, and the midpoint of revenue guidance rose by USD 1.5 billion.

Stevanato Group (NYSE:STVN): The Supplier Behind the Injectables

Stevanato Group (NYSE:STVN) supplies glass vials, syringes and drug-delivery devices to pharmaceutical companies, which links it to the GLP-1 boom that Novo Nordisk is selling into. Third-quarter revenue on November 3, 2026 was EUR 326.1 million, ahead of the roughly EUR 320.9 million analysts expected, and adjusted earnings of EUR 0.16 a share were in line. The market reacted to the outlook, because the company expects only low single-digit revenue growth in 2027 while holding its 2026 revenue range at EUR 1.26 billion to EUR 1.28 billion. GLP-1 products made up about 17% to 18% of third-quarter revenue, while Demand from other biologic drugs grew more than 30%, according to published coverage. Sources differ on the size of the drop. One morning snapshot showed USD 14.63 against a USD 19.74 close, about 25.9% lower, while another cited about 24%. Risks include customer concentration in obesity drugs, price pressure on injectable devices, capacity costs and slower biologic launches.

Inovio (NASDAQ:INO): An Approval and a Penny-Stock Style Move

Inovio (NASDAQ:INO) announced on October 30, 2026 that the FDA granted accelerated approval to VOCERYQ, a plasmid DNA immunotherapy that encodes HPV-6 and HPV-11 antigens, to reduce how often adults with recurrent respiratory papillomatosis need surgery. Published coverage showed the stock up roughly 224% on November 2 from a pre-news level near USD 0.60. In the RRP-001 trial, 7 of 26 patients in the efficacy population, or 27% with a 95% confidence interval of 12% to 48%, needed no surgical excision after 12 months. Accelerated approval allows clearance on an intermediate endpoint, so continued approval may depend on a confirmatory study, with a draft protocol due by the end of 2026. Ordering and shipping are expected in about 60 days, and full commercial launch is planned for the first quarter of 2027. Inovio is a small cap, so a few trades can move the price, spreads can be wide and quoted moves can reverse. A further Equity raise to fund the launch would dilute holders, and the trial was single-arm and open-label with 32 patients. Commercial risks include being second to market and the cost of building a sales force.

Where Things Stand

The GLP-1 link is real but uneven. Novo Nordisk (NYSE:NVO) is the demand side, with the Wegovy pill selling DKK 5,394 million in its early quarters, while Stevanato is the supplier whose stock fell 24% to 26% because 2027 growth looks low. Pfizer raised its revenue guide but still fell, and Inovio's 224% move is a small-cap approval reaction rather than a read-across to obesity drugs. The balance of evidence is that obesity drug demand is strong, but suppliers and rivals face different pressures. Pfizer carries restructuring and COVID decline risk, while Inovio (NASDAQ:INO) carries the most idiosyncratic risk. The next catalysts are Novo's next report, Stevanato's order data and Inovio's launch. None of these is a forecast. Nothing here is Investment advice.

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