Leerink Partners analyst David Risinger has maintained their neutral stance on LLY stock, giving a Hold rating on August 27.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
David Risinger has given his Hold rating due to a combination of factors related to Eli Lilly & Co’s recent developments and market expectations. The company announced promising results for Jaypirca in the treatment of CLL/SLL, showing significant improvement in progression-free survival compared to existing treatments. However, the lack of detailed numerical data and the immaturity of overall survival data suggest that while the results are promising, they are not yet conclusive enough to warrant a more aggressive rating.
Additionally, while the projected sales for Jaypirca are above market consensus, the overall impact on Eli Lilly’s stock is tempered by the need for further validation of these results. The company’s recent performance and the broader market conditions also play a role in maintaining a cautious outlook. Therefore, the Hold rating reflects a balanced view of potential upside against the need for additional data and confirmation of long-term benefits.
In another report released on August 27, HSBC also upgraded the stock to a Hold with a $700.00 price target.