Name of opportunity: 👀
Eli Lilly and Company
Missed sales estimates: 📉
Eli Lilly is the pharma company behind Mounjaro and Zepbound, popular weight loss drugs. Analysts had predicted revenue of $12.1 billion for Eli Lilly’s third quarter, but the company actually reported $11.4 billion. While that’s 20% up from the year previous, the shortfall has some investors worried. The company has also lowered its full-year non-GAAP EPS guidance to $13.02-13.52, down from $16.10-16.60. As a result, the stock has dropped by 5.74%, putting it into our ‘Biggest Losers Today’ neme. But it’s not all bad news for Eli Lilly…
How hot is this investment opportunity? 🔥🔥🔥
Some analysts, like Geoff Meacham at Citi Research, say that now might be a good time to invest in the stock. It’s been noted that the lower sales are down to wholesalers cutting their inventory, not decreased demand.
If you check out Eli Lilly on the Nemo app, you will see it is currently considered to be a ‘Buy’. Analysts predict the price might increase from $847.47 to $865.62 in the next 12 months. If you invested $1000, you might profit $16.36.
Analysts say that Eli Lilly’s products mean the drugmaker remains a strong player in the healthcare market.
This week, Eli Lilly’s drug Mounjaro has been approved for sale in Hong Kong, and the company aims to begin selling it there as early as the end of this year. Mounjaro is a weight loss drug with the active ingredient tirzepeptide, which some studies have shown to be more powerful than semaglutide, the ingredient behind rival Novo Nordisk’s Ozempic and Wegovy drugs.
A leading pharma stock: 💊
Eli Lilly and Company is engaged in drug manufacturing businesses. It discovers, develops, manufactures, and markets products in the human pharmaceutical products segment. We have covered Eli Lilly before on Hot Stocks, most recently in August when it soared 12.57% in a week.
Which neme?: 🔍
‘Largest US Stocks’, Moderate Volatility Stocks’, ‘Stocks On The Move’, ‘Biggest Losers Today’, ‘Pharma’, ‘Future Tech: World Changing Ideas’, ‘Copy a $10 Trn Asset Manager’, ‘Record Setters So Far In 2024’ and ‘This Week’s Earnings’.
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