Analysts revise Eli Lilly stock price targets
The post Analysts revise Eli Lilly stock price targets appeared on BitcoinEthereumNews.com. Eli Lilly (NYSE: LLY) recently made headlines with positive drug trial results for its GLP-1 weight-loss drug and its approval in China. But there might be some potential trouble ahead, as U.S. President Joe Biden called on pharmaceutical companies to lower the prices of their weight loss and diabetes drugs. “If Novo Nordisk (NYSE: NVO) and other pharmaceutical companies refuse to substantially lower prescription drug prices in our country and end their greed, we will do everything within our power to end it for them,” said Biden in an opinion article for USA Today. Although this caused the price of LLY stock to dip by 3.42% on July 1, the shares quickly recovered. Analysts believe this pharmaceutical giant still has room for growth, especially after the Federal Drug Agency (FDA) approved its Alzheimer’s drug Kisunla. Kisunla offers a path towards diversification for LLY stock With most of the profits coming from its weight loss and diabetes drugs, Eli Lilly is sure to welcome with open arms the most recent approval of its Alzheimer’s drug, as it sparks revenue increase and diversification and further bolster LLY stock price of $906.71 after its impressive 53% growth on a year-to-date basis. BMO Capital Markets assigned an “outperform” rating and a target of $1,001 on July 2. The firm’s outlook is buoyed by the anticipated approval of Donanemab, branded as Kisunla. This approval is expected to significantly boost Eli Lilly’s revenues to a potential $7.1 billion peak sales, enhancing Lilly’s revenue diversification. “Alzheimer’s is very different from obesity markets is Biogen/Eisai has been on the market for already a year, and it’s been a slow slog for that product, and will likely be the same for Kisunla, at least a slow start,” said BMO analyst Evan Seigerman. Furthermore, Cantor Fitzgerald rated Lilly as “overweight”…
The post Analysts revise Eli Lilly stock price targets appeared on BitcoinEthereumNews.com.
Eli Lilly (NYSE: LLY) recently made headlines with positive drug trial results for its GLP-1 weight-loss drug and its approval in China. But there might be some potential trouble ahead, as U.S. President Joe Biden called on pharmaceutical companies to lower the prices of their weight loss and diabetes drugs. “If Novo Nordisk (NYSE: NVO) and other pharmaceutical companies refuse to substantially lower prescription drug prices in our country and end their greed, we will do everything within our power to end it for them,” said Biden in an opinion article for USA Today. Although this caused the price of LLY stock to dip by 3.42% on July 1, the shares quickly recovered. Analysts believe this pharmaceutical giant still has room for growth, especially after the Federal Drug Agency (FDA) approved its Alzheimer’s drug Kisunla. Kisunla offers a path towards diversification for LLY stock With most of the profits coming from its weight loss and diabetes drugs, Eli Lilly is sure to welcome with open arms the most recent approval of its Alzheimer’s drug, as it sparks revenue increase and diversification and further bolster LLY stock price of $906.71 after its impressive 53% growth on a year-to-date basis. BMO Capital Markets assigned an “outperform” rating and a target of $1,001 on July 2. The firm’s outlook is buoyed by the anticipated approval of Donanemab, branded as Kisunla. This approval is expected to significantly boost Eli Lilly’s revenues to a potential $7.1 billion peak sales, enhancing Lilly’s revenue diversification. “Alzheimer’s is very different from obesity markets is Biogen/Eisai has been on the market for already a year, and it’s been a slow slog for that product, and will likely be the same for Kisunla, at least a slow start,” said BMO analyst Evan Seigerman. Furthermore, Cantor Fitzgerald rated Lilly as “overweight”…
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