Shares of Eli Lilly & Co. (LLY), the world’s biggest pharmaceutical concern, rose 30.77% during November, making the stock a top performer in the benchmark S&P 500 index.
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The rally pushed Eli Lilly’s valuation above the $1 trillion mark, making it the first pharmaceutical company ever to reach that milestone. LLY stock has seen accelerating momentum after the company posted strong quarterly results on Oct. 30 and provided Wall Street with bullish forward guidance.
Eli Lilly’s earnings per share (EPS) beat forecasts by a wide margin, posting $7.02 versus the consensus estimate of $5.69. Revenue was driven by the company’s Mounjaro and Zepbound weight-loss drugs, whose combined sales exceeded $10 billion in the year’s third quarter.
High Expectations for Eli Lilly
Investors and analysts have high expectations for LLY stock moving forward. The company is expected to receive regulatory approval for its new weight-loss pill in the spring, with global sales anticipated to begin by summer 2026. The weight-loss pill is widely forecast to be a worldwide bestseller for Eli Lilly.
The 30% gain for LLY stock in November is a big reversal for the share price, which spent much of the past year treading water. However, after topping $1,000 a share, the stock has accelerated and continues to rise. There are now rumors that LLY stock could split in coming months, although management has made no such announcement.
Is LLY Stock a Buy?
The stock of Eli Lilly has a consensus Strong Buy rating among 20 Wall Street analysts. That rating is based on 18 Buy and two Hold recommendations issued in the last three months. The average LLY price target of $1,035.22 implies 5.98% downside from current levels.
