Benzinga
Published Apr 02, 2024 16:39
Updated Apr 02, 2024 17:40
Eli Lilly Stock Navigates Weight-Loss Drug Competition With Technical Resilience
Benzinga - by Surbhi Jain, .
Despite facing intensified competition in the weight-loss drug market, particularly with the emergence of its own product Zepbound, Eli Lilly & Co‘s (NYSE:LLY) strategic positioning and technical resilience present a compelling investment opportunity.
Zepbound boasts impressive weight-loss efficacy in clinical trials. It also marks a significant milestone for Eli Lilly in the weight-loss drug market.
However, it’s imperative to note that competition remains stiff, with established players like Novo Nordisk A/S (NYSE:NVO), the maker of Ozempic, vying for market share.
Also Read: What Analysts Are Saying About Eli Lilly and Co Stock
Looking ahead, the current technical trend shows a moderate bearish sentiment with slight selling pressure observed. Despite this, there are signals indicating potential opportunities:
Analyst Reaction: The most recent analyst ratings for Eli Lilly stock, released by Cantor Fitzgerald, Truist Securities, and JP Morgan on April 1, March 22 and March 15, respectively, contribute to an average price target of $838.33. This indicates a potential upside of 10.55% for Eli Lilly and Co based on the assessments of these three analysts.
LLY Price Action: Eli Lilly stock was trading at $758 a share at the time of publication.
Read Next: Here’s How Much You Would Have Made Owning Eli Lilly and Co Stock In The Last 5 Years
Image: Shutterstock
Latest Ratings for LLY
Feb 2022 | Morgan Stanley | Maintains | Overweight | |
Feb 2022 | Mizuho | Maintains | Buy | |
Jan 2022 | Morgan Stanley | Maintains | Overweight |
View the Latest Analyst Ratings
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