Geoff Meacham, an analyst from Citi, maintained the Buy rating on Eli Lilly & Co (LLY – Research Report). The associated price target remains the same with $1,190.00.
Geoff Meacham has given his Buy rating due to a combination of factors including Eli Lilly & Co’s strong growth trajectory and the potential for expanded coverage of their anti-obesity medication, tirzepatide. Despite the recent decision by HHS not to finalize Medicare coverage for anti-obesity drugs, Meacham sees limited impact on Lilly’s performance.
The company’s robust growth, as evidenced by a 37% quarter-over-quarter increase in Zepbound prescriptions, supports the Buy rating. Additionally, the possibility of future positive analysis by CMS could enhance commercial coverage, further bolstering Lilly’s market position. Meacham maintains a price target of $1,190, reflecting confidence in the company’s continued success.
In another report released on April 4, Bank of America Securities also maintained a Buy rating on the stock with a $1,000.00 price target.
Based on the recent corporate insider activity of 140 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LLY in relation to earlier this year.