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Investing.com - BMO Capital has reiterated an Outperform rating and $900.00 price target on Eli Lilly (NYSE:LLY), a prominent player in the pharmaceuticals industry with a market capitalization of nearly $700 billion, according to a research note released Tuesday. InvestingPro data shows analyst targets ranging from $650 to $1,190, with the stock currently trading at $776.08.
The investment firm suggests that Eli Lilly’s presymptomatic Alzheimer’s trial, TRAILBLAZER-ALZ 3, could undergo an interim analysis earlier than market expectations, potentially by early fourth quarter 2025.
BMO Capital’s analysis indicates this interim review might demonstrate statistical significance even with a low alpha spend, potentially benefiting both Eli Lilly and Biogen (NASDAQ:BIIB) shares.
The firm notes that a positive readout could improve sentiment around beta-amyloid Alzheimer’s therapy and potentially expand the long-term market potential to patients without progressed disease.
In its most optimistic scenario, BMO Capital projects that positive interim results could drive Eli Lilly shares up approximately 7% and Biogen shares up approximately 12%.
In other recent news, Eli Lilly has announced its second-quarter earnings report, with Guggenheim raising its price target to $942.00 while maintaining a Buy rating. The research firm projects Mounjaro sales of $4.49 billion, which is slightly above consensus estimates. Additionally, the U.S. Food and Drug Administration has approved a new dosing schedule for Eli Lilly’s Alzheimer’s drug, Kisunla, which significantly reduces the incidence of certain imaging abnormalities. JPMorgan has reiterated an Overweight rating with a price target of $1,100.00, citing potential upside from Mounjaro and Zepbound products. UBS also maintains a Buy rating with a $1,050.00 price target, emphasizing the company’s strong position in the obesity treatment market. The investment bank expects sales of Zepbound to exceed consensus expectations by 15%. Furthermore, Eli Lilly has entered into a definitive agreement to acquire Verve Therapeutics for up to $1.3 billion. This acquisition has led BMO Capital to downgrade Verve Therapeutics from Outperform to Market Perform. These developments highlight significant strategic moves and analyst expectations for Eli Lilly.
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