Wells Fargo analyst Mohit Bansal maintained a Buy rating on Eli Lilly & Co (LLY – Research Report) yesterday and set a price target of $1,100.00.
Mohit Bansal has given his Buy rating due to a combination of factors including the promising performance of Eli Lilly & Co’s CagriSema in weight loss for patients with type 2 diabetes and obesity. The drug’s weight loss results are comparable to those of Zepbound, suggesting that Eli Lilly remains competitive in this therapeutic area. However, Bansal notes that the tolerability of CagriSema is an important consideration, as gastrointestinal side effects are common, though mostly mild to moderate.
Despite these concerns, the safety profile is similar to previous studies, and the potential for muscle sparing with amylin could be advantageous. Bansal emphasizes the importance of tolerability in ensuring patient adherence and treatment efficacy, which could support longer treatment durations. Overall, these factors contribute to the positive outlook for Eli Lilly’s stock, justifying the Buy rating.
In another report released yesterday, Morgan Stanley also reiterated a Buy rating on the stock with a $1,146.00 price target.
LLY’s price has also changed slightly for the past six months – from $901.250 to $829.760, which is a -7.93% drop .
Questions or Comments about the article? Write to editor@tipranks.com