As weight loss drug stocks rallied on a landmark study, these stocks were over sold, analysts say

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While Novo Nordisk's Select study stoked confidence in the weight loss drug market, it spooked holders of medtech and liver disease stocks seen losing out.

Continuous glucose monitoring has been a great tool to help patients with diabetes better manage their blood sugar levels, but all the attention being paid to new obesity drugs has pressured the stocks of the medical device manufacturers. This week was a great example.

mountain Dexcom shares are flat year to date. But analysts have said the news isn't all bad for such stocks, and many were fell too low on Tuesday. Indeed, some recouped lost ground on Thursday, such as Dexcom. Its stock closed up 2.1%, but shares remain down nearly 6% week to date. Abbott shares are down about 3% week to date and were flat in Thursday's trading.

drug developers The Select trial data also sparked a selloff in companies working on treatments for mountain Terns shares are down 36% year to date. Early data has shown that GLP-1 medications can reduce fat in the liver. That has led to questions as to whether

 

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