#1 - Eli Lilly (NYSE:LLY)
The emergence of GLP-1 therapeutics has caused a surge into weight loss stocks such as Eli Lilly and Co. (NYSE: LLY). The company has GLP-1 candidates Mounjaro for Type-2 diabetes and Zepbound for obesity.
Eli Lilly is currently working to expand Zepbound's label to include sleep apnea, which would potentially add about 80 million patients in the United States alone.
Lilly’s financials show that there’s more to this story than hype. Year-over-year (YOY) revenue was up 19% in 2023. And the company reported a 26% YOY increase in the first quarter of 2024.
But with LLY stock up more than 73% in the last 12 months, investors may believe that the growth is fully priced in. The stock is down 12% in July, which could create a nice entry point for investors. Lilly reports earnings on August 8. A report that supports analysts' outlook for 40% earnings growth could make this a buyable dip.
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
- $924.05
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 16 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $977.35 (5.8% Upside)
