Pro Research: Wall Street digs into Eli Lilly's robust outlook

investing.com:

Explore Wall Street's expert insights with this ProResearch article, which will exclusively be available to InvestingPro subscribers soon. Enhance your investment strategy with ProPicks, our newest product featuring strategies that have outperformed the S&P 500 by up to 700%. This New Year, enjoy up to 50% off on a subscription to InvestingPro. In addition, take an extra 10% off a 2-year InvestingPro+ subscription with the code SFY24 or claim an extra 10% off a 1-year InvestingPro+ subscription with the code SFY241 . To ensure ongoing access to valuable content like this, step up your investment game with InvestingPro.

Eli Lilly and Company (NYSE:LLY) has been a topic of interest among Wall Street analysts, with a focus on its biopharmaceutical offerings, particularly in the diabetes care and obesity treatment sectors. The company's strategic positioning, product pipeline, and recent launches have painted a picture of a firm with strong growth prospects in a competitive landscape.

Eli Lilly holds a notable presence in the healthcare sector, with its market capitalization reaching upwards of USD 587.194 billion as of early January 2024. Analysts have consistently given the stock an «Overweight» rating, indicating a bullish stance on the company's performance and future prospects. The price target for Eli Lilly has been set at USD 630.00 by multiple firms, reflecting confidence in the company's growth trajectory.

Eli Lilly's diabetes care products, particularly the GLP-1 class drugs like Mounjaro (tirzepatide) and the newly approved Zepbound, have been the stars of the show. Mounjaro has seen a consistent increase in total prescriptions (TRx), indicating strong uptake and market share gains. Zepbound, too, has shown