Wegovy-maker Novo Nordisk said on Wednesday it will sharpen its commercial focus and reduce costs, after a major profit warning and new CEO announcement last week wiped some $95 billion of value from the company's stock.

Weston's downgrade still values Novo Nordisk stock above its current share price of $47 and change, however. Moreover, Novo Nordisk stock currently costs less than 14 times earnings.

Novo took the active ingredient of Ozempic, semaglutide, and rebranded it as Wegovy to be used specifically for weight loss. Together, these blockbuster drugs made Novo the most valuable publicly listed company in Europe. At one point, its market capitalization was even bigger than the size of Denmark’s economy.