#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 industry leaders with its Mounjaro (for diabetes) and Zepbound (for weight loss) GLP-1 drugs.
These two drugs now account for nearly 40% of the company’s revenue. And that’s likely to remain the case if not increase in coming years. To begin with, the existing addressable market is likely to increase as more data becomes available on the long-term performance of these drugs. Plus, 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
- $788.35
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 17 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $1,007.94 (27.9% Upside)
