Steve Scala, an analyst from TD Cowen, maintained the Buy rating on Eli Lilly & Co. The associated price target remains the same with $960.00.
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Steve Scala has given his Buy rating due to a combination of factors related to Eli Lilly & Co’s recent clinical trial results. The company’s Phase III trial of orforglipron in patients with obesity and type 2 diabetes demonstrated significant efficacy in weight loss and A1C reduction, meeting both primary and secondary endpoints.
Despite some higher discontinuation rates due to adverse events, the overall positive outcomes, including reductions in cardiovascular risk factors, support the potential of orforglipron in the market. These promising results, alongside Eli Lilly’s plans to proceed with regulatory applications, contribute to Scala’s optimistic outlook for the company’s stock.