Goldman Sachs analyst Asad Haider maintained a Buy rating on Eli Lilly & Co yesterday and set a price target of $879.00.
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Asad Haider has given his Buy rating due to a combination of factors influencing Eli Lilly & Co’s stock. One of the primary considerations is the company’s strategic positioning in response to policy-related drug pricing updates. Specifically, the outcome of negotiations with the US government on the Most Favored Nation (MFN) clause and the pricing strategy for their new oral GLP-1 pill, orforglipron, are pivotal. Additionally, the competitive dynamics surrounding tirzepatide, influenced by Novo’s IRA drug price negotiations, are also significant factors.
Beyond policy considerations, Eli Lilly’s active clinical event path is another reason for the Buy rating. The company is expected to release data on its next-generation obesity treatments, including elorinitide and retatrutide, which could positively impact their stock. Furthermore, the focus on the tirzepatide franchise and the anticipated outcomes from ongoing trials and inventory dynamics are expected to support the company’s growth trajectory, aligning with the recently raised revenue guidance.
In another report released today, Bernstein also maintained a Buy rating on the stock with a $1,100.00 price target.