Analyst Evan Seigerman from BMO Capital maintained a Buy rating on Eli Lilly & Co and keeping the price target at $840.00.
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Evan Seigerman has given his Buy rating due to a combination of factors including the promising results from Eli Lilly’s ATTAIN-2 trial for orforglipron. The trial demonstrated significant weight loss and A1c reduction in patients with type 2 diabetes, which supports the drug’s efficacy as a treatment for both obesity and diabetes. Despite initial lower expectations following the ATTAIN-1 trial, the results from ATTAIN-2 are viewed positively, indicating a potential for FDA approval by year-end and a likely market entry by 2026.
Additionally, Seigerman highlights Eli Lilly’s robust growth prospects driven by its diabetes portfolio, which is expected to provide sustained growth. The company’s strategic pipeline, including recent approvals like donanemab, further strengthens its position. Furthermore, Eli Lilly’s oncology franchise is anticipated to contribute positively to its financial performance, supporting the overall positive outlook for the company’s stock.
In another report released today, Citi also maintained a Buy rating on the stock with a $1,190.00 price target.
Based on the recent corporate insider activity of 125 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LLY in relation to earlier this year.