Weight Loss Drug Market To Rocket To $130B By 2030 With Eli Lilly, Novo Nordisk In Lead: Goldman Sachs
Portfolio Pulse from Anusuya Lahiri
Goldman Sachs analysts have re-rated Eli Lilly (LLY) and Novo Nordisk (NVO), projecting the weight-loss drug market to reach $130 billion by 2030. Eli Lilly's price target was raised to $785, while Novo Nordisk's was reiterated at $156. Both companies are expected to maintain a dominant market share.
May 30, 2024 | 3:17 pm
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Goldman Sachs analyst Chris Shibutani maintained a Neutral rating on Eli Lilly with a price target increase to $785. The company's AOM portfolio revenues are expected to grow significantly, with a forecast of $56.6 billion by 2030.
The price target increase and positive revenue forecasts indicate strong growth potential for Eli Lilly's weight-loss drugs, likely boosting investor confidence and short-term stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Goldman Sachs analyst James Quigley reiterated a Buy rating on Novo Nordisk with a price target of $156. The company is expected to maintain its leadership in obesity treatment, driven by its strong pipeline and significant investments in manufacturing and clinical trials.
The reiterated Buy rating and positive outlook on Novo Nordisk's pipeline and market leadership suggest strong growth potential, likely leading to a positive short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100