Bernstein analyst Courtney Breen has maintained their bullish stance on LLY stock, giving a Buy rating yesterday.
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Courtney Breen’s rating is based on Eli Lilly & Co’s strategic advancements in their incretin pipeline, particularly with the development of Brenipatide. The company is expanding its focus beyond traditional weight loss and cardiometabolic applications to address central nervous system conditions, which are currently underserved. This approach not only positions Lilly for long-term leadership in the incretin market but also diversifies their portfolio to target multiple patient subsegments.
Additionally, Brenipatide’s classification as a non-small molecule by the FDA is significant for future pricing negotiations with Medicare, potentially extending patent protection and allowing for price differentiation. These strategic moves, coupled with ongoing trials in various conditions such as alcohol use disorder and mental health, indicate a robust growth trajectory for Lilly, justifying the Buy rating with a price target of $1300.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $1,200.00 price target.
Based on the recent corporate insider activity of 152 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.