#2 - Eli Lilly (NYSE:LLY)
Eli Lilly and Company (NYSE: LLY) is another company that is making noise in the weight loss drug sector. Lilly’s entrant is Mounjaro. Originally approved by the FDA as a treatment for Type 2 diabetes, Mounjaro received approval as a weight loss drug in November 2023.
So far, the results are promising. A study shows that Mounjaro is more effective for weight loss than Ozempic. One of the highlights of the study is that uses without Type-2 diabetes lost more weight. That may be one reason the study is being contested by Novo Nordisk since Ozempic is first and foremost for treatment of Type-2 diabetes.
LLY stock is up 55% in 2023. The Eli Lilly analyst ratings on MarketBeat give the stock a Moderate Buy rating with a 2% upside. However, that price target may not fully reflect the expectation for over 90% earnings growth in the next 12 months.
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)
