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On Thursday, Leerink Partners maintained a positive outlook on Eli Lilly (NYSE:LLY) shares, reiterating an Outperform rating and a price target of $989.00. The pharmaceutical giant, currently valued at over $760 billion, has demonstrated remarkable growth with a 32% revenue increase over the last twelve months. According to InvestingPro data, analyst price targets for LLY range from $650 to $1,190, reflecting diverse market expectations for this prominent industry player. The pharmaceutical company’s new oral diabetes treatment, orforglipron, demonstrated comparable efficacy and safety to the existing injectable medication semaglutide (Ozempic), produced by Novo Nordisk (NYSE:NVO), which is not currently rated by Leerink.
The press release from Eli Lilly highlighted the Phase 3 ACHIEVE-1 trial results for orforglipron, showcasing its performance in patients with type 2 diabetes. With an impressive gross profit margin of 81.3% and strong financial health metrics according to InvestingPro’s analysis, the company appears well-positioned to support its drug development pipeline. The data revealed a 7.9% weight loss at the highest dose of 36 mg over 40 weeks, adjusted for placebo at 6.3%, and an A1C reduction of 1.5%, with placebo-adjusted results at 1.4%. Additionally, the treatment’s tolerability was noted, with a vomiting rate of 14% and an 8% discontinuation rate due to adverse events.
The comprehensive findings from the ACHIEVE-1 trial are set to be presented at the American Diabetes Association conference in Chicago on June 21, 2025, from 8:40-9:00 AM CT. Eli Lilly has plans to submit regulatory filings for orforglipron for weight management by the end of 2025 and for the treatment of type 2 diabetes in 2026, with expectations for approval within the same year.
Leerink Partners expressed confidence in the prospects of Eli Lilly’s shares based on these developments, stating, "We expect orforglipron to be approved in 2026. Reiterate OP on LLY shares." The endorsement of the stock and the anticipation for the drug’s approval reflect the firm’s optimism about Eli Lilly’s future performance in the market. Investors should note that the company’s next earnings report is scheduled for May 1, 2025. For deeper insights into LLY’s valuation and growth prospects, including exclusive ProTips and comprehensive financial analysis, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, Eli Lilly and Company announced positive results from its Phase 3 trial of orforglipron, an oral diabetes medication. The trial showed significant reductions in A1C levels and weight among participants, with more than 65% achieving an A1C of 6.5% or lower. Eli Lilly plans to submit orforglipron for regulatory approval for weight management by the end of the year and for type 2 diabetes treatment in 2026. In addition, Bernstein analysts maintained their Outperform rating on Eli Lilly, citing the company’s strong market share growth, particularly in the semaglutide and tirzepatide categories. The firm’s analysts set a price target of $1,100, reflecting confidence in Eli Lilly’s market leadership. Meanwhile, Pfizer (NYSE:PFE)’s decision to discontinue its obesity drug candidate, danuglipron, has increased investor interest in Eli Lilly, as competition in the GLP-1 receptor agonist space may be reduced. However, Eli Lilly’s stock was affected by President Donald Trump’s announcement of potential tariffs on the pharmaceutical industry, which could impact the global supply chain and profitability. The proposed tariffs have raised concerns among investors about increased costs and potential retaliatory measures from other countries.
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