HSBC analyst Rajesh Kumar upgraded Eli Lilly (LLY) to Hold from Reduce with a price target of $700, up from $675. The firm believes Orforglipron’s ATTAIN-2 Phase 3 data in diabesity offers a clear commercial path for filing and commercialization. The data demonstrates a competitive efficacy profile with marketed oral drug Rybelsus, the analyst tells investors in a research note. HSBC increased estimates and sees “sensible” market expectations for Orfoglipron following consensus cuts. The bear case has played out and there may be upside potential to consensus estimates if the obesity market maintains price discipline, contends HSBC.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LLY:
- Eli Lilly upgraded to Hold from Reduce at HSBC
- Novo Nordisk Stock (NVO) Slides on Rival Weight Loss Pill News
- Eli Lilly (LLY) Prepares for Weight Loss Pill Approval After Late-Stage Clinical Trial
- Morning News Wrap-Up: Tuesday’s Biggest Stock Market Stories!
- Closing Bell Movers: MongoDB jumps nearly 30% after beat and raise