What's Going On With Eli Lilly Stock Wednesday?
Portfolio Pulse from Adam Eckert
Eli Lilly's stock is trading higher, possibly due to Novo Nordisk halting its kidney outcomes trial FLOW due to early signs of success. Eli Lilly produces a similar drug to Novo's Ozempic, called Mounjaro. Morgan Stanley has maintained an Overweight rating for Eli Lilly and raised the price target from $640 to $673, citing improved estimates for Mounjaro's sales from 2024 to 2026.
October 11, 2023 | 4:16 pm
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POSITIVE IMPACT
Eli Lilly's stock is trading higher, possibly due to positive developments in a similar drug by Novo Nordisk. Morgan Stanley has raised the price target for Eli Lilly.
The stock is trading higher possibly due to positive developments in a similar drug by Novo Nordisk. Additionally, Morgan Stanley's raised price target indicates a positive outlook for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Novo Nordisk has halted its kidney outcomes trial FLOW due to early signs of success. This could have a positive impact on the stock.
The successful interim results of the trial could boost investor confidence in the company, potentially leading to a rise in the stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50