Eli Lilly (LLY) stock continues to be a hot topic among traders as demand for weight-loss drugs keeps growing. That interest has also spread to analysts, including five-star Citi analyst Geoff Meacham. He is the most bullish analyst covering LLY stock. Meacham reiterated a Buy rating on LLY stock and maintained a $1,500 price target earlier this week. That price target implies a possible 44.16% upside for the shares.
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What’s Behind the Bullish Eli Lilly Stock Price Target?
Meacham’s bullish outlook is based on Eli Lilly’s next-generation weight-loss drugs. The analyst is optimistic about orforglipron, the company’s oral GLP-1 treatment. Unlike injectable weight-loss drugs, orforglipron is a pill. Meacham argues easier access and competitive pricing could help the drug reach a much larger group of patients compared to injections.
The Citi analyst is also encouraged by Eli Lilly’s retatrutide data. He said the weight-loss results seen in clinical trials were “unheard of.” Meacham claims these results could help Lilly stay ahead in the obesity drug market. Investors have closely watched these studies as drugmakers race to control the GLP-1 space.
At the same time, Meacham still sees Eli Lilly as one of the strongest long-term growth stories in healthcare. While the stock has faced pressure at times due to concerns about insurance coverage and pricing negotiations, Meacham believes those issues are manageable. The analyst argued that Eli Lilly’s obesity and diabetes treatments give it a major upside over rivals.
Where Do Other Analysts Stand on LLY Stock?
Turning to Wall Street, investors will see that the majority of analysts agree with Meacham on Eli Lilly. The stock has a consensus Strong Buy rating based on 19 Buy, two Hold, and one Sell rating over the past three months. This comes with an average LLY stock price target of $1,264.10, representing a possible 21.25% upside for the shares.
