Eli Lilly's Weight Loss Drug Tirzepatide Is Expanding Market Share, Analyst Outlines What Lies Ahead (CORRECTED)
Portfolio Pulse from Vandana Singh
Eli Lilly's weight loss drug, Tripeptide, is gaining market share with BMO Capital Markets tracking its performance. The analyst projects $12.78 billion in revenues for fiscal year 2024. Mounjaro and Zepbound, Eli Lilly's drugs for diabetes and weight loss respectively, have shown significant weekly prescription growth. Despite supply challenges, demand for Eli Lilly's drugs continues to outpace supply, leading BMO to raise its price target for Eli Lilly from $710 to $865. However, LLY shares have recently dropped by 1.16%.
February 12, 2024 | 7:54 pm
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POSITIVE IMPACT
Eli Lilly's Tripeptide is expanding in market share with significant growth in prescriptions for Mounjaro and Zepbound, leading to a raised price target from $710 to $865 by BMO Capital Markets.
The positive outlook and raised price target by BMO Capital Markets reflect strong market performance and growth potential for Eli Lilly's Tripeptide, Mounjaro, and Zepbound. Despite the recent drop in share price, the overall positive growth in prescriptions and revenue projections suggest a likely positive short-term impact on LLY's stock.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100