Goldman Sachs analyst Asad Haider maintained a Buy rating on Eli Lilly & Co on August 15 and set a price target of $876.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Asad Haider’s rating is based on the recent findings from the ATTAIN-1 trial results for Eli Lilly & Co’s oral obesity medication, orforglipron. Despite initial market disappointment, the feedback from key opinion leaders (KOLs) was largely positive, with many viewing the drug’s efficacy as ranging from satisfactory to excellent. The safety and tolerability profile also received favorable reviews, albeit with some variability in responses. Importantly, most KOLs indicated a willingness to prescribe orforglipron more frequently following the trial results, particularly for patients who prefer oral medication over injectables or those with less severe weight loss needs.
Additionally, orforglipron’s market positioning relative to Novo’s oral semaglutide was seen as competitive, with expectations of similar market share allocation. While pricing remains a topic of debate, with most KOLs suggesting a significant discount compared to injectable options, this aspect is anticipated to be a focal point for investors as pricing strategies are revealed. The upcoming ATTAIN-2 trial is expected to further clarify orforglipron’s potential, although current expectations among KOLs vary. These factors collectively contribute to the Buy rating for Eli Lilly & Co’s stock.
In another report released on August 15, Bernstein also maintained a Buy rating on the stock with a $1,100.00 price target.