Analysts Boost Eli Lilly's Forecast With High Hopes On Mounjaro, Zepbound Performance
Portfolio Pulse from Vandana Singh
Eli Lilly (NYSE:LLY) reported a Q4 2023 revenue of $9.35 billion, a 28% increase Y/Y, surpassing the consensus of $8.93 billion. This growth was driven by higher prices, increased volume, and favorable foreign exchange rates. New Products revenue, led by Mounjaro and Zepbound, grew to $2.49 billion. The company also announced positive results from the SYNERGY-NASH Phase 2 study of tirzepatide. However, Verzenio did not meet its primary endpoint in the CYCLONE-2 study. Analysts from BMO Capital, Morgan Stanley, BofA Securities, and Truist have raised their price targets for LLY, citing strong growth potential and recent successes.
February 07, 2024 | 7:49 pm
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Eli Lilly reported a significant Q4 revenue increase and positive study results, with analysts raising price targets.
The positive earnings report, exceeding consensus estimates, and successful study results for tirzepatide indicate strong performance and potential for future growth. Analysts' raised price targets reflect confidence in Eli Lilly's growth trajectory, likely leading to a positive short-term impact on LLY's stock price.
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IMPORTANCE 90
RELEVANCE 100