#3 - Eli Lilly & Co. (NYSE:LLY)
One of the hottest trends in 2024 started in 2022 when the first GLP-1 drugs were introduced. Eli Lilly & Company (NYSE: LLY) is one of the GLP-1 industry leaders with Mounjaro (for diabetes) and Zepbound (for weight loss).
These two drugs now generate nearly 40% of the company’s revenue, a figure that is likely to remain steady—or even grow—in the coming years. To begin with, the existing addressable market will probably increase as more data becomes available on the long-term performance of these drugs. Plus, Eli Lilly is looking to get the drugs approved for more indications including sleep apnea and even heart failure.
LLY stock is up 35.2% in 2024 as of November 27. And at over $780 a share, it’s one of the most expensive stocks on this list. However, that includes a drop of nearly 11% in the month of November after the company posted disappointing earnings. Analysts have lowered their price targets but still have a consensus target of $1,007.94, which would be a gain of over 27%.
About Eli Lilly and Company
Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.
Read More - Current Price
- $781.98
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 17 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $1,002.22 (28.2% Upside)
