Eli Lilly Gains After Jefferies Raises Price Target to Wall Street-High $1,700

Eli Lilly and Company (NYSE:LLY) shares are trading higher Monday after Jefferies raised its price target to $1,700 from $1,610, the highest target on Wall Street, according to Investing.com.

• Eli Lilly stock is showing positive momentum. What’s ahead for LLY stock?

Jefferies Raises Eli Lilly Target to the Street-High $1,700, on GLP-1 Opportunity

Jefferies argues that investors are materially underestimating Lilly’s international GLP-1 opportunity. The firm said the addressable patient population outside the United States could be roughly twice as large as the domestic market, and that the long-term international revenue opportunity may ultimately rival the U.S. business in scale.

Jefferies also pointed to favorable pricing as patients move to higher doses, stronger margins outside the United States and the economics of Lilly’s oral obesity drug portfolio. Lilly’s U.S. market share lead in the GLP-1 segment has grown to about 63%, as rival Novo Nordisk A/S (NYSE:NVO) has faced setbacks in recent months, including mixed pipeline data.

Canada’s Drug Agency Recommends Reimbursement of Lilly’s Alzheimer’s Drug Kisunla

Late last week, Canada’s Drug Agency issued a positive recommendation to reimburse Lilly’s Alzheimer’s treatment Kisunla, or donanemab, for eligible adults with early symptomatic Alzheimer’s disease. That makes Canada one of the first internationally recognized health technology assessment bodies to back public funding for the drug.

Lilly Reports Positive Phase 3 Results for Foundayo in Obstructive Sleep Apnea

Separately, Lilly announced positive results from the Phase 3 ATTAIN-OSA program of Foundayo, or orforglipron, in adults with moderate-to-severe obstructive sleep apnea and obesity or overweight, presented at the American Heart Association Scientific Sessions and published in JAMA.

At 52 weeks, Foundayo met the primary endpoint, reducing the apnea-hypopnea index, the standard measure of sleep apnea severity, by up to an average of 44%, with up to 32% of participants achieving remission or mild disease. Participants lost an average of about 28 pounds. Lilly plans to submit Foundayo to the U.S. Food and Drug Administration for moderate-to-severe obstructive sleep apnea by the end of 2026.

Eli Lilly Shares Edge Higher

LLY Price Action: At the time of publication, Eli Lilly shares are trading 2.75% higher at $1,391.30, according to data from Benzinga Pro.

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