In a report released today, Tim Anderson from Bank of America Securities maintained a Buy rating on Eli Lilly & Co (LLY – Research Report), with a price target of $1,000.00.
Tim Anderson’s rating is based on several promising developments in Eli Lilly & Co’s pipeline, particularly in the area of GLP-1 and obesity-related treatments. The company is exploring various approaches to long-term weight maintenance, with GLP-1s expected to remain a central component. Additionally, Eli Lilly is advancing its research in Alzheimer’s disease, although they anticipate only modest effects from GLP-1s in this area.
Furthermore, the company is making significant progress with its drug tirzepatide, which has shown potential pleiotropic effects and is being tested in the SURPASS-CVOT trial. Eli Lilly is also advancing its orforglipron and retatrutide programs, with upcoming data readouts expected to provide further insights. Despite some safety concerns, particularly with retatrutide, the overall outlook for Eli Lilly’s pipeline remains positive, supporting the Buy rating with a price objective of $1,000.
Anderson covers the Healthcare sector, focusing on stocks such as Gilead Sciences, Eli Lilly & Co, and Johnson & Johnson. According to TipRanks, Anderson has an average return of 11.4% and a 72.37% success rate on recommended stocks.
In another report released on May 5, Leerink Partners also maintained a Buy rating on the stock with a $944.00 price target.