BMO Capital analyst Evan Seigerman maintained a Buy rating on Eli Lilly & Co (LLY – Research Report) yesterday and set a price target of $1,010.00.
Evan Seigerman has given his Buy rating due to a combination of factors including Eli Lilly & Co’s strategic expansion of their self-pay program. This expansion involves the introduction of new dosage options and price reductions for existing vials, which are expected to enhance demand among cash pay patients who lack substantial insurance coverage. By offering a wider range of doses, Lilly aims to improve patient adherence and potentially increase net revenue per prescription for those willing to pay out of pocket.
Additionally, the company’s focus on expanding the self-pay market aligns with their broader strategy to boost demand for tirzepatide and segment the market based on consumer payment capabilities. This approach is seen as a positive step towards achieving their financial guidance for 2025. Furthermore, Seigerman’s rating is supported by an analysis of Eli Lilly’s growth prospects in comparison to its peers, with the diabetes sector anticipated to drive sustained growth. The company’s successful pipeline strategy and recent product approvals, such as donanemab, alongside a robust oncology franchise, are also key contributors to the positive outlook.
In another report released today, J.P. Morgan also maintained a Buy rating on the stock with a $1,100.00 price target.
Based on the recent corporate insider activity of 137 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LLY in relation to earlier this year.