Novo Nordisk said on Monday it is offering its diabetes drug Ozempic for $499 per month to eligible cash-paying type 2 diabetes patients in the U.S.

Turning to Wall Street, the analysts’ consensus rating for Novo Nordisk is Moderate Buy, based on three Buy and four Hold ratings over the past three months. With that comes an average NVO stock price target of $67.86, representing a potential 23.65% upside for the shares.

At current prices Novo Nordisk is a Strong Buy. It's good positioning in the promising weight loss segment, solid foundation in the diabetes market and the future potential of the Alzheimer's treatment paired with a potential undervaluation of up to 77% make the company a compelling pick right now.