Eli Lilly stock price target maintained at $825 by Cantor Fitzgerald

Investing.com - Cantor Fitzgerald has reiterated its Overweight rating and $825.00 price target on Eli Lilly (NYSE:LLY), a pharmaceutical giant with a market cap of $686.5 billion, following the publication of Phase 3 ATTAIN-1 obesity trial results for its oral GLP-1 medication orforglipron. According to InvestingPro data, 14 analysts have recently revised their earnings estimates upward for the upcoming period.

The trial results for orforglipron were published in the New England Journal of Medicine (NEJM) and are being presented at the European Association for the Study of Diabetes (EASD) conference.

Cantor Fitzgerald noted that the topline results, initially disclosed in August, showed orforglipron achieved 9% placebo-adjusted weight loss by week 72 based on the treatment estimand.

The research firm pointed out that this weight loss efficacy was lower than the approximately 12-13% placebo-adjusted weight loss demonstrated by injectable and oral Semaglutide.

The maintained Overweight rating suggests Cantor Fitzgerald remains positive on Eli Lilly’s prospects despite orforglipron showing somewhat less weight reduction than competing GLP-1 medications.

In other recent news, Eli Lilly has released full trial data for its obesity drug Orforglipron, which showed weight loss plateauing around 40 weeks. Despite this result being lower than initially expected at the 72-week mark, Bernstein has reiterated an Outperform rating with a $1,000.00 price target. In contrast, Berenberg downgraded Eli Lilly’s stock from Buy to Hold, citing a plateauing obesity market as a key factor and adjusting its price target to $830.00. Meanwhile, Eli Lilly plans to file for regulatory approval of Orforglipron across multiple major markets nearly simultaneously. However, the company has expressed caution regarding the FDA’s new fast-track review process, with its international president indicating uncertainty about utilizing it for Orforglipron. Additionally, Eli Lilly launched Lilly TuneLab, an AI platform for biotech companies, leveraging $1 billion worth of proprietary research data for drug discovery. These developments reflect Eli Lilly’s ongoing efforts in the obesity and diabetes treatment sectors.

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