Danish pharmaceutical company Novo Nordisk falls around 3 percent on the stock exchange after JP Morgan in an analysis predicted that the third quarter will be a weaker one for the company, Bloomberg News writes.

The reason why the quarter is expected to be worse is lower sales than expected for the flagship drug Wegovy. JP Morgan believes that the company will miss early estimates by 5 percent based on assumptions that Wegovy will have sold 9 percent less than consensus thought in the quarter.

At the same time, the bank flags that weakness that may come from the report would be an opportunity to enter the stock ahead of the Q4 report.

The stock is now trading more than 20 percent lower compared to the record level in June.