The Weight Loss Stocks Boom: 5 Hot Picks to Buy Now

If you’ve scrolled X or flipped through news lately, you’ve probably seen the weight-loss drug craze. Considering adult obesity has more than doubled worldwide in the last 30 years, there’s no surprise global demand for weight-loss medications is experiencing a remarkable surge. Analysts’ projections show the GLP-1 (glucagon-like peptide-1) drug market will potentially reach $150 billion annually by the early 2030s.

This significant growth is primarily fueled by the gaining popularity of medications like Wegovy, Ozempic and Zepbound. They have proven to be very effective at helping people lose weight. This is just one side of their positive effect. On top of the weight loss, these medications are now acknowledged for their ability to reduce major health risks including heart attacks, diabetes and strokes, which has led to a rise in support from insurers and medical professionals.

Weight Loss Stocks Overview

Popular pharmaceutical companies, including Eli Lilly and Novo Nordisk, are currently the leaders of this expanding market. Naturally the escalating demand for weight loss medications is also attracting new enthusiasts into the market. Companies like Pfizer and Amgen are developing their own weight-loss treatments, aiming to capitalize on this lucrative opportunity. Additionally, telehealth platforms such as Hims & Hers have started to offer compounded versions of these drug, further increasing consumer access.

Effective weight management is becoming more widely acknowledged as an essential element of general health. This trend promotes a larger change in healthcare. As the industry continues to evolve, it gives significant opportunities for investors and stakeholders looking to invest in one of the most dynamic sectors in modern medicine. Here we selected five weight loss stocks to consider:

1. Eli Lilly & Co. (NYSE: LLY)

Eli Lilly’s Zepbound and Mounjaro (both powered by the active ingredient tirzepatide) have shown impressive results in weight-loss trials. Despite recent challenges, including CVS Health’s decision to remove Zepbound from its reimbursement list in favor of Novo Nordisk’s Wegovy, Eli Lilly continues to invest heavily in expanding its manufacturing capabilities, committing over $27 billion to U.S. manufacturing expansions. ​

In Q1 2025, Lilly reported revenue of $12.73 billion. This is an incredible 45% revenue jump compared to Q1 2024. Key Products1 revenue grew by $4.09 billion to $7.52 billion in Q1 2025 mostly driven by Zepbound and Mounjaro sales. Not bad considering Zepbound was launched in late 2023. Together, these drugs made up nearly 38% of Lilly’s total revenue last year.

With global demand soaring (Lilly’s launching Mounjaro in markets like China and India), they’re expecting 2025 sales between $58-$61 billion, a 32% growth spurt. That’s the kind of number that makes investors to pay attention.

Moreover, the first of seven Phase 3 trials for Type 2 diabetes and obesity showed promising results for orforglipron, a small molecule oral GLP-1 agonist. Lilly’s CEO and chair is David A. Ricks reported that with product approvals in immunology and oncology, as well as the remarkable success of their oral incretin, orforglipron, in the first of seven late-stage studies in diabetes and obesity, their pipeline will continue to deliver across key therapeutic areas.

Why Lilly Stands Out

If you are wondering why Lilly over other players like Novo Nordisk, the maker of Wegovy and Ozempic? For one, Lilly got a secret weapon: orforglipron, an oral GLP-1 pill that could shake up the market. Unlike injectable drugs, a pill is easier to take, cheaper to make, and could reach way more people—especially those who hate needles. In April 2025, Lilly released phase-three trial data showing orforglipron helped patients lose about 8% of their body weight (16 pounds) and cut blood sugar levels, matching the efficacy of Novo’s Ozempic. The stock soared 16% that day, and analysts are calling it a potential blockbuster. Lilly’s planning to submit it for FDA approval for weight loss by late 2025, with diabetes approval in 2026.

Lilly’s also got retatrutide, a triple-hormone drug in phase-three trials that could outdo tirzepatide by targeting GLP-1, GIP, and GCG hormones. Early data suggests it might be a game-changer for higher-BMI patients or those with conditions like sleep apnea.

And last but not least, consider Lilly’s heavy investment in manufacturing—$16 billion since 2020 to boost supply. Looks like they’re ready to meet demand. The FDA even declared the tirzepatide shortage over in December 2024, giving Lilly a leg up on competitors.

But It’s Not All Smooth Sailing

Okay, let’s keep it real—Lilly’s travel is not smooth. The stock took a hit in May 2025 when CVS Caremark picked Novo’s Wegovy over Zepbound as its preferred weight-loss drug starting July 2025, sending shares down 11%. Lilly also cut its 2025 profit forecast to $20.78-$22.28 per share, below Wall Street’s $22.43, citing costs from a cancer drug acquisition. And at a price-to-earnings ratio of 63, it’s pricier than the healthcare industry’s average of 20. Some folks think it’s overvalued, pegging its fair value at $580 compared to its current price around $776.

Then there’s competition. Novo Nordisk is no slouch, and smaller players like Amgen are creeping into the space. Plus, President Trump’s talk of pharmaceutical tariffs could mess with Lilly’s plans, though CEO Dave Ricks says they’re already boosting U.S. manufacturing to dodge that bullet.

Why Now’s the Time to Consider Lilly

Despite the risks, Lilly’s a beast in the weight-loss space. That CVS hiccup? Analysts like JPMorgan say the sell-off was overblown—Zepbound still holds over 50% market share, and Lilly’s ramping up ads to win over doctors and Medicare patients. The orforglipron data has Wall Street buzzing, with some calling Lilly the “preeminent player” in GLP-1 drugs. And with a low equity beta of 0.46, Lilly’s stock is less volatile than the broader market, making it a solid pick for risk-averse investors.

If you’re looking to dip into the $100 billion weight-loss market, Lilly’s a name to watch. Start small, maybe with a few shares through a platform like Schwab or Robinhood and keep an eye on their phase-three readouts in mid-2025.

2. Novo Nordisk (NYSE: NVO)

Novo Nordisk’s Wegovy (semaglutide) has gained significant traction, especially after CVS Caremark partnered with the company to make Wegovy the preferred weight-loss medication for its members starting July 1, 2025.  The company is also working to expand access to its medications globally, with the World Health Organization set to endorse the use of weight-loss drugs like Wegovy for treating adult obesity. Here’s more information why you might want to consider it:

Novo Nordisk Is Leading The Weight Loss Hype

Wegovy, approved in 2021, saw sales skyrocket 107% year-over-year to 19.87 billion Danish kroner ($2.66 billion) in Q4 2024. That’s no fluke—demand for weight-loss drugs is outpacing supply, with over 45 million people using Novo’s treatments globally.

In Q1 2025, Novo reported a 19.5% revenue jump to 78.08 billion kroner ($10.46 billion), beating Wall Street’s expectations. Wegovy and Ozempic (both powered by semaglutide) are cash cows, making up a huge chunk of Novo’s 26% sales growth in diabetes and obesity care last year. With CVS Health sticking with Wegovy over rival Eli Lilly’s Zepbound for reimbursement, Novo’s got a solid foothold in the U.S., the world’s biggest pharma market.

Why Novo Nordisk Shines

Novo’s not just resting on Wegovy’s laurels—they’re innovating like crazy. Take amycretin, their next-gen drug that targets both GLP-1 and amylin hormones. In a 2025 phase 1b/2a trial, patients lost 22% of their body weight after 36 weeks, sending Novo’s stock up 11% in premarket trading. Unlike injectables, amycretin comes in a pill form, which could be a game-changer for people who hate needles. The FDA’s reviewing Novo’s oral semaglutide (Wegovy in pill form) for weight loss, with a decision expected by late 2025. If approved, it could be the first oral GLP-1 drug, opening the market to millions more.

Novo’s also tackling supply issues head-on. They acquired three Catalent manufacturing sites in 2024 to boost production, and CEO Lars Fruergaard Jørgensen says they’re ready to meet soaring demand. This is huge when rivals like Lilly are still struggling with shortages. Plus, Novo’s exploring new uses for semaglutide, like reducing heart risks. Data presented in March 2025 showed it lowers cardiovascular risks in patients with obesity and type 2 diabetes, which could unlock insurance coverage and drive even more sales.

The Bumps in the Road

Let’s be real—Novo’s had some stumbles. Their next-gen drug CagriSema was a letdown, with phase-three trials showing only 15.7% weight loss after 68 weeks, far below the 25% investors hoped for. Shares tanked 6.3% that day, and the stock’s down about 50% over the past 12 months. Eli Lilly’s oral drug Zepbound is outperforming Wegovy in head-to-head trials (20.2% vs. 13.7% weight loss). BMO Capital Markets even downgraded Novo to “market perform” in April 2025, citing Lilly’s edge.

Then there’s the valuation. At a forward P/E of 19, Novo’s cheaper than Lilly’s 63 but still pricier than the healthcare sector’s 20. Morningstar pegs its fair value at 640 kroner ($86), suggesting it’s slightly overvalued at $67 as of May 2025. There are also policy risks: Trump’s tariff talks could cause a stir, and Medicare’s price negotiations for semaglutide products are set to affect prices in 2027.

Why Novo’s Still a Buy

Despite the noise, Novo’s a powerhouse. Wegovy and Ozempic are still printing money, and amycretin’s early data is promising. Novo’s got a 34% share of the $80 billion diabetes market and half the insulin market, giving it a rock-solid base. Analysts expect 14% revenue growth and 16% profit growth through 2029, driven by GLP-1 drugs. The stock’s 23% upside potential, with a median price target of $83, isn’t too shabby either.

If you look at the big picture – the weight-loss market’s exploding, and Novo’s got the pipeline, production, and brand power to stay ahead. If you’re eyeing the $150 billion obesity market, Novo’s a solid pick. This isn’t about a quick buck—it’s about betting on a company that’s changing lives.

 3. Viking Therapeutics (NASDAQ: VKTX)

Viking Therapeutics is developing a weight-loss drug that has shown promising results in Phase 2 trials, with up to 13.1% placebo-adjusted weight loss. Analysts are optimistic about the company’s prospects, with some predicting significant upside potential.  Here’s why Viking Therapeutics is worth a look right now.

In February 2024, Viking’s phase 2 trial for the injectable version of VK2735 showed patients losing up to 14.7% of their body weight in just 13 weeks—better than Wegovy’s 13.7% in similar trials. The stock shot up 120% in a single day. Fast forward to November 2024, and Viking’s oral VK2735 pill showed 8.2% weight loss in 28 days at its highest dose, beating Lilly’s orforglipron (6.8%) in early data. With both injectable and oral versions in the works, Viking’s got the power that could shake up the market.

Why Viking Stands Out

Viking’s not a household name like Lilly or Novo, but that’s part of its appeal. It’s a lean, clinical-stage biotech with a market cap of just $3.1 billion—tiny compared to Lilly’s $736 billion. That small size means more room for growth if VK2735 delivers. Here’s why Viking’s got Wall Street buzzing:

• Best-in-Class Potential: VK2735 is a dual GLP-1/GIP agonist, like Lilly’s Zepbound, but its phase 2 data suggest it could be more effective. The injectable version had mild side effects, with only one serious case of dehydration reported, and 88% of patients hit at least 10% weight loss. The oral pill’s early tolerability is “impressive,” per JPMorgan, which could make it a go-to for needle-averse patients.
• Oral Advantage: An oral weight-loss drug is the holy grail. Injections like Wegovy require weekly jabs, but Viking’s oral VK2735, now in phase 2, could be a daily pill. Patients in the 2024 trial kept losing weight even six days after their last dose, hinting at flexibility for travelers or those who miss a dose. If approved around 2030, JPMorgan estimates it could grab 10% of the oral GLP-1 market.
• Mergers & Acquisitions (M&A) Buzz: Viking’s a prime takeover target. Analysts at Deutsche Bank say the weight-loss market isn’t just a Lilly-Novo duo—smaller players like Viking could get snapped up by big pharma. Pfizer, which ditched its own weight-loss candidates, might come knocking. A buyout could send Viking’s stock soaring overnight.

Viking’s also moving fast. They’re kicking off phase 3 trials for injectable VK2735 in Q2 2025 and running a 13-week phase 2 trial for the oral version. Plus, they’ve locked in a manufacturing deal with CordenPharma to scale up production, addressing a key concern that tanked the stock 8% in November 2024 when analysts questioned their supply chain.

The Risks Are Real

Look, Viking’s not a sure thing. It’s most likely a rollercoaster. The stock’s down 40% from its February 2024 high of $99.41, trading around $25 in May 2025, thanks to a disappointing Q3 2024 earnings report showing a $24.9 million net loss ($0.22 per share). That’s typical for a pre-revenue biotech pouring cash into R&D. But it spooked some investors. Manufacturing VK2735 at scale could be “very costly,” per analysts, and Viking’s behind Lilly and Novo, who’ve got approved drugs and bigger budgets.

There’s also competition. Lilly’s orforglipron and Novo’s amycretin are further along, and smaller players like Structure Therapeutics are nipping at Viking’s heels. Regulatory hurdles loom—VK2735 needs to ace phase 3 and win FDA approval, which isn’t guaranteed. Policy risks, like Trump’s tariff threats, could also mess with costs.

Why Now’s the Time to Consider Viking

Despite the risks, Viking’s got serious upside. Wall Street’s wild about it—17 analysts give it a “Strong Buy” rating with an average price target of $90.93, implying a 254% jump from $25. The high-end target? $125, a potential 400% gain. JPMorgan’s $80 target sees a 45% pop by December 2025, especially if phase 2 oral data in mid-2025 shines.

Viking’s low beta of 0.71 means it’s less volatile than many biotech peers, and its $3.1 billion market cap leaves plenty of growth potential if VK2735 hits the market. For aggressive investors, Viking’s a chance to get in early on a company that could either dominate a niche or get bought out for a fat premium.

Start small—maybe a few shares and track Viking’s phase 2 oral data in 2025. Check their investor page at ir.vikingtherapeutics.com for updates or join the X chatter for real-time buzz. Viking’s not Lilly or Novo, but it’s got the potential to be a profitable weight-loss choice.

4. Amgen Inc. (NASDAQ: AMGN)

We are listing Amgen here not because of their arthritis drugs or cancer treatments, but because of their weight-loss drug, MariTide, GLP-1 receptor agonist. Early data from its weight-loss injection is proving positive, positioning the company as a formidable competitor in the space. ​ Here’s why Amgen is a weight loss stock you might want to consider right now.

In November 2024, Amgen dropped phase 2 trial results for MariTide, showing up to 20% weight loss in obese or overweight patients without diabetes after 52 weeks. For those with type 2 diabetes, it hit 17%—solid, but not quite the 22%+ from Lilly’s Zepbound or Novo’s Wegovy in longer trials. The stock took a 4.8% hit that day, wiping out $7 billion in market value, because Wall Street was hoping for a knockout punch. But here’s the thing: Amgen’s still got a lot going for it.

Why Amgen Is In The Weight-Loss Game?

Amgen’s not trying to copy Novo or Lilly—they’re doing things differently, and that’s what makes them interesting. Here’s why MariTide and Amgen stand out:

• Less Frequent Dosing: MariTide is a monthly (or even quarterly) injection, compared to the weekly shots required for Wegovy and Zepbound. That’s a big deal for patients who don’t want to get shots every week. Amgen’s Chief Scientific Officer, Jay Bradner, says this could make MariTide a “first-in-class” option for less frequent dosing, and early data backs it up—patients saw sustained weight loss even after stopping the drug.
• Unique Mechanism: MariTide is an antibody-peptide conjugate that activates the GLP-1 receptor (like Wegovy) butblocks the GIP receptor, unlike Lilly’s Zepbound, which activates both. This approach could lead to faster weight loss and better maintenance, with phase 2 data showing no weight-loss plateau at 52 weeks, hinting at potential for even more loss over time.
• Phase 3 Plans: Amgen’s not messing around—they’re launching a broad phase 3 program in 2025, testing MariTide for obesity, diabetes, heart disease, sleep apnea, and kidney disorders. They’re also exploring longer-term weight maintenance, which could set them apart in a crowded market.
• Manufacturing Plans: Unlike Novo and Lilly, who’ve struggled with shortages, Amgen’s already expanding production for MariTide. CEO Bob Bradway said they’re gearing up to avoid supply bottlenecks, a move that could give them an edge as demand skyrockets.

Plus, Amgen’s a biotech heavyweight. They’re not a one-trick pony like some smaller players. Their portfolio includes billion-dollar drugs like Prolia (osteoporosis, $1.1 billion in Q1 2025 sales) and Repatha (cholesterol, up 27% to $656 million). This diversity means they’re not betting the farm on MariTide, which lowers the risk for small investors.

The Not-So-Pretty Stuff

Okay, let’s face it – Amgen’s got some hurdles. The phase 2 MariTide results disappointed Wall Street, with only 20% weight loss compared to Zepbound’s 22%+ and Wegovy’s 15% in longer trials. About 11% of patients dropped out due to side effects like nausea and vomiting, higher than Zepbound’s 6%. Those spooked investors, and analysts like J.P. Morgan noted the side effect profile needs work.

There’s also a bone density concern from phase 1 data, where the highest dose caused a 4% loss in bone mineral density over 12 weeks. Amgen says it’s not a long-term issue, and phase 2 data showed no bone safety concerns, but it’s something to watch.

Valuation’s another sticking point. At a forward P/E of 13.55, Amgen’s cheaper than Lilly (34) or Novo (17), but it’s still a $144 billion company with MariTide years away from launch (maybe 2027). Policy risks, like Trump’s tariff threats or Medicare price negotiations, could also throw a wrench in things.

Why Amgen’s Worth a Look Now

Despite the bumps, Amgen’s got a lot going for it. It’s still competitive, and the monthly dosing could be a game-changer for patient compliance. The phase 3 trials starting in 2025 could deliver stronger data, especially if Amgen fine-tunes dosing to cut side effects.

Wall Street’s still bullish—15 of 22 analysts’ rate AMGN a “Buy,” with a median price target of $335, about 25% above its current $268. The high-end target? $400, a 49% upside. Amgen’s also got a 3.55% dividend yield, which sweetens the deal for conservative investors waiting for MariTide to mature.

Unlike smaller biotechs like Viking, Amgen’s got cash flow and a proven track record to weather setbacks. For aggressive investors, MariTide’s monthly dosing and phase 3 potential make it a bet on the $150 billion obesity market. Want to invest now? Start with a small position and keep an eye on phase 3 updates in late 2025. Check Amgen’s investor page at investors.amgen.com or X for the latest chatter. MariTide’s not perfect, but Amgen’s got the power to make it big.

5. Structure Therapeutics (NASDAQ: GPCR)

Structure Therapeutics is a small biotech that’s making waves in the weight-loss drug space. It is developing orally administered weight-loss drugs, offering an alternative to injectable treatments. The company’s approach addresses patient preferences and aims to reduce muscle wasting associated with weight loss.  Here’s why this under-the-radar weight loss stock got my attention.

In June 2024, Structure’s phase 2a trial for GSBR-1290 dropped some exciting data: patients lost an average of 6.2% of their body weight in just 12 weeks, with some hitting 10% or more. That’s competitive with Lilly’s oral drug orforglipron, which showed 6.8% weight loss in early trials. The stock soared 54% that day. Even better, a follow-up study with a tablet version of GSBR-1290 hit up to 6.9% weight loss, and Structure’s now enrolling hundreds for phase 2b trials (ACCESS and ACCESS II) set to wrap up by late 2025.

Why Structure’s a Standout

Structure’s not a biotech giant like Lilly or Novo—it’s a lean, clinical-stage company with a $1.5 billion market cap, which means it’s got room to grow. Here’s why it’s catching eyes:

• Oral Advantage: Most GLP-1 drugs, like Wegovy, are injectables, which can be a hassle. GSBR-1290 is a once-daily pill, making it easier for patients and cheaper to produce. In trials, it showed solid weight loss with nausea and vomiting mostly limited to early doses, and only 5% of phase 2a participants dropped out due to side effects. That’s a win for tolerability.
• Competitive: GSBR-1290’s 6.2% weight loss in 12 weeks stacks up well against Lilly’s orforglipron and Viking Therapeutics’ VK2735 (8.2% in 28 days). If Structure nails phase 2b, they could be a major player in the $30 billion oral GLP-1 market by 2035.
• Cash aspect: Structure’s sitting on $883.5 million in cash as of late 2024, enough to fund trials through 2027. That’s huge for a pre-revenue biotech, reducing the risk of dilution from stock offerings. They also raised $300 million in 2023, showing investor confidence.
• Pipeline Bonus: Beyond GSBR-1290, Structure’s working on ACCG-2671, an oral amylin receptor agonist for obesity, with phase 1 trials starting by late 2025. They’ve got other candidates, like ANPA-0073 for muscle-sparing weight loss, adding depth to their portfolio.

JPMorgan’s bullish, giving Structure an “Overweight” rating with a $65 price target—over 80% upside from its current $26. They see GSBR-1290 hitting $1 billion in peak sales by 2035.

The Risks You Can’t Ignore

Let’s be honest— we know Structure is a risky bet. The stock’s volatile, down from a 2024 high of $53.07 to $26 in May 2025, partly due to a December 2023 trial letdown where GSBR-1290 showed only 3.3%-3.5% weight loss in diabetes patients, missing the 5% goal.

Structure’s also behind the big dogs—Lilly’s orforglipron could hit the market by 2026, while GSBR-1290’s eyeing 2029. Competition’s fierce, with Novo’s amycretin and Viking’s VK2735 further along. As a pre-revenue company, Structure’s burning cash, with a $122.5 million net loss in 2024. Regulatory hurdles are another worry—phase 2b and 3 trials need to shine for FDA approval. Plus, policy risks like Trump’s tariff threats could hike costs.

Why Now’s a Good Time to Consider Structure

Despite the risks, Structure’s got serious potential. Wall Street’s all in—16 analysts give it a unanimous “Strong Buy” with an average price target of $72.33, implying over 200% upside from $26. Citi just started coverage with a $60 target, calling Structure’s oral focus a game-changer.

The phase 2b ACCESS trials, fully enrolled as of February 2025, are testing higher doses over 36 weeks, with results due by Q4 2025. If they confirm GSBR-1290’s efficacy and safety, the stock could rocket. Structure’s small size makes it a takeover target, too—big pharma like Pfizer, who scrapped their own oral GLP-1, might swoop in.

It is not difficult to see Structure as a high reward play in a booming market. For aggressive investors, it’s a chance to get in early on a biotech that could either disrupt the oral GLP-1 space or get bought out for a premium. Want to jump in? Start small—grab a few shares—and watch for phase 2b data in late 2025. Check Structure’s investor page at ir.structuretx.com or X for updates. It’s a long shot, but if GSBR-1290 hits, it’s going to be huge.

Conclusion

The World Health Organization estimates over 1 billion people globally are obese, and more than 2.5 billion adults are overweight.  The health risks caused by overweight and obesity are well documented and understood. Weight-loss drug trend is here to stay. If you choose your position carefully, profits won’t be late.

FAQ: Weight-Loss Drug Stocks and the Booming Market