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Investing.com - UBS maintained its Buy rating and $895.00 price target on Eli Lilly (NYSE:LLY) following positive Phase 3 trial results for its obesity treatment. According to InvestingPro data, analyst targets for LLY range from $650 to $1,190, with strong consensus support reflected in 14 recent upward earnings revisions.
The pharmaceutical company announced topline results from its ATTAIN-2 trial testing orforglipron in patients with obesity and type 2 diabetes.
UBS noted that the data represents "a clear positive," with orforglipron showing efficacy comparable to Novo Nordisk’s Wegovy (semaglutide) in the same patient population.
The investment bank believes the results validate orforglipron’s clinical profile in obesity treatment and suggests a "more optimistic commercial outlook" than what investors expected following earlier ATTAIN-1 results.
UBS maintains a peak sales estimate of $15 billion for the drug, in line with current market consensus, while awaiting full data presentation at the European Association for the Study of Diabetes (EASD) for detailed efficacy and safety information.
In other recent news, Eli Lilly announced that its breast cancer drug Verzenio demonstrated a statistically significant improvement in overall survival in high-risk patients when combined with endocrine therapy. This positive outcome was observed in the Phase 3 monarchE trial, which also showed sustained benefits in invasive disease-free and distant relapse-free survival. Additionally, Eli Lilly’s oral weight loss drug orforglipron showed promising results in patients with obesity and type 2 diabetes, achieving significant weight loss and A1C reduction in the ATTAIN-2 trial. TD Cowen reiterated a Buy rating with a $960 price target following these results, while William Blair noted that orforglipron outperformed investor expectations. BofA Securities also maintained a Buy rating, with a $900 target, citing Eli Lilly’s projected revenue growth significantly outpacing industry averages. These developments highlight the company’s ongoing advancements in its pharmaceutical offerings.
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