In a report released yesterday, Mohit Bansal from Wells Fargo maintained a Buy rating on Eli Lilly & Co (LLY – Research Report), with a price target of $1,100.00.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Mohit Bansal has given his Buy rating due to a combination of factors related to Eli Lilly & Co’s promising developments in their pharmaceutical research. The company’s bimagrumab, when combined with semaglutide, has demonstrated significant efficacy in promoting weight loss while preserving lean muscle mass, a notable achievement in the field of obesity treatment. This combination therapy showed a synergistic effect, leading to substantial reductions in fat mass and a high percentage of weight loss attributed to fat, which positions it as a potentially effective treatment option.
Despite some concerns regarding transient increases in liver enzymes and LDL cholesterol, the overall safety profile remains manageable. The ongoing studies and future data will further clarify the functional benefits of muscle preservation, which could enhance the therapeutic value of the treatment. Additionally, Eli Lilly’s focus on advancing its research with tirzepatide, another promising compound, underscores the company’s commitment to innovation and growth in the pharmaceutical sector, supporting the Buy recommendation.
In another report released yesterday, Citi also maintained a Buy rating on the stock with a $1,190.00 price target.