Cidel Asset Management Inc. raised its position in Eli Lilly and Company (NYSE:LLY – Free Report) by 26.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 26,726 shares of the company’s stock after acquiring an additional 5,591 shares during the period. Eli Lilly and Company makes up about 1.2% of Cidel Asset Management Inc.’s holdings, making the stock its 27th largest holding. Cidel Asset Management Inc.’s holdings in Eli Lilly and Company were worth $20,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently made changes to their positions in LLY. Sumitomo Mitsui Financial Group Inc. purchased a new stake in Eli Lilly and Company during the second quarter valued at about $27,000. Evolution Wealth Management Inc. purchased a new stake in shares of Eli Lilly and Company during the 2nd quarter valued at approximately $29,000. Steph & Co. boosted its holdings in Eli Lilly and Company by 290.0% in the 3rd quarter. Steph & Co. now owns 39 shares of the company’s stock worth $30,000 after buying an additional 29 shares during the period. Financial Gravity Companies Inc. purchased a new position in Eli Lilly and Company in the 2nd quarter valued at approximately $31,000. Finally, Bare Financial Services Inc grew its stake in Eli Lilly and Company by 263.6% in the 2nd quarter. Bare Financial Services Inc now owns 40 shares of the company’s stock valued at $31,000 after buying an additional 29 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.
Key Headlines Impacting Eli Lilly and Company
Here are the key news stories impacting Eli Lilly and Company this week:
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on LLY shares. Leerink Partners increased their target price on Eli Lilly and Company from $1,234.00 to $1,296.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Wells Fargo & Company lifted their target price on Eli Lilly and Company from $1,200.00 to $1,280.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Zacks Research cut Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 30th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Eli Lilly and Company from $1,200.00 to $1,285.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Finally, Morgan Stanley upped their target price on shares of Eli Lilly and Company from $1,290.00 to $1,313.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,218.88.
LLY stock opened at $1,040.12 on Friday. Eli Lilly and Company has a 1-year low of $623.78 and a 1-year high of $1,133.95. The stock has a market cap of $983.31 billion, a price-to-earnings ratio of 45.32, a price-to-earnings-growth ratio of 1.21 and a beta of 0.39. The company has a current ratio of 1.55, a quick ratio of 1.24 and a debt-to-equity ratio of 1.71. The company’s 50 day moving average is $1,052.39 and its 200 day moving average is $907.31.
Eli Lilly and Company (NYSE:LLY – Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $7.54 EPS for the quarter, topping analysts’ consensus estimates of $7.48 by $0.06. The firm had revenue of $19.29 billion for the quarter, compared to analyst estimates of $17.85 billion. Eli Lilly and Company had a net margin of 31.66% and a return on equity of 112.50%. The business’s revenue for the quarter was up 42.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.32 EPS. Eli Lilly and Company has set its FY 2026 guidance at 33.500-35.000 EPS. Sell-side analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.
Eli Lilly and Company Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th will be given a dividend of $1.73 per share. The ex-dividend date is Friday, February 13th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.50. This represents a $6.92 dividend on an annualized basis and a yield of 0.7%. Eli Lilly and Company’s dividend payout ratio (DPR) is 26.14%.
Eli Lilly and Company (NYSE: LLY) is a global pharmaceutical company founded in 1876 and headquartered in Indianapolis, Indiana. The company researches, develops, manufactures and commercializes a broad range of medicines and therapies for patients worldwide. Eli Lilly maintains operations and commercial presence across North America, Europe, Asia and other regions, serving both developed and emerging markets. The company has been led in recent years by President and Chief Executive Officer David A.
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Core Alternative Capital trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY – Free Report) by 10.0% in the third quarter, HoldingsChannel.com reports. The fund owned 11,920 shares of the company’s stock after selling 1,318 shares during the quarter. Eli Lilly and Company comprises about 2.6% of Core Alternative Capital’s investment portfolio, making the stock its 5th biggest position. Core Alternative Capital’s holdings in Eli Lilly and Company were worth $9,095,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of LLY. Vanguard Group Inc. increased its holdings in Eli Lilly and Company by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 80,407,430 shares of the company’s stock valued at $62,680,004,000 after buying an additional 1,183,038 shares during the period. Laurel Wealth Advisors LLC boosted its position in shares of Eli Lilly and Company by 78,621.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 11,552,336 shares of the company’s stock worth $9,005,392,000 after acquiring an additional 11,537,661 shares in the last quarter. Norges Bank bought a new position in Eli Lilly and Company in the second quarter valued at approximately $8,827,714,000. Jennison Associates LLC raised its position in Eli Lilly and Company by 4.3% during the second quarter. Jennison Associates LLC now owns 5,447,636 shares of the company’s stock valued at $4,246,596,000 after purchasing an additional 226,620 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Eli Lilly and Company by 2.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 5,359,653 shares of the company’s stock worth $4,178,010,000 after purchasing an additional 103,119 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded Eli Lilly and Company from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Truist Financial lifted their target price on Eli Lilly and Company from $1,038.00 to $1,182.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. UBS Group assumed coverage on shares of Eli Lilly and Company in a report on Tuesday, January 6th. They issued a “buy” rating and a $1,250.00 target price for the company. HSBC reaffirmed a “hold” rating and set a $1,070.00 price target on shares of Eli Lilly and Company in a report on Wednesday, December 10th. Finally, National Bankshares set a $1,286.00 price objective on shares of Eli Lilly and Company in a research note on Monday, December 1st. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Buy” and a consensus target price of $1,173.91.
Shares of Eli Lilly and Company stock opened at $1,038.23 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.55 and a debt-to-equity ratio of 1.71. Eli Lilly and Company has a twelve month low of $623.78 and a twelve month high of $1,133.95. The stock has a market cap of $981.52 billion, a price-to-earnings ratio of 50.79, a P/E/G ratio of 0.80 and a beta of 0.35. The company’s fifty day moving average is $1,058.15 and its 200 day moving average is $885.09.
Eli Lilly and Company (NYSE:LLY – Get Free Report) last announced its earnings results on Thursday, October 30th. The company reported $7.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.42 by $0.60. Eli Lilly and Company had a return on equity of 109.52% and a net margin of 30.99%.The business had revenue of $17.60 billion during the quarter, compared to analyst estimates of $16.09 billion. During the same period last year, the company earned $1.18 EPS. Eli Lilly and Company’s revenue for the quarter was up 53.9% compared to the same quarter last year. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. Sell-side analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.
Eli Lilly and Company Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 13th will be issued a $1.73 dividend. The ex-dividend date is Friday, February 13th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.50. This represents a $6.92 annualized dividend and a yield of 0.7%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 29.35%.
Key Headlines Impacting Eli Lilly and Company
Here are the key news stories impacting Eli Lilly and Company this week:
Eli Lilly and Company (NYSE: LLY) is a global pharmaceutical company founded in 1876 and headquartered in Indianapolis, Indiana. The company researches, develops, manufactures and commercializes a broad range of medicines and therapies for patients worldwide. Eli Lilly maintains operations and commercial presence across North America, Europe, Asia and other regions, serving both developed and emerging markets. The company has been led in recent years by President and Chief Executive Officer David A.
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Oak Family Advisors LLC acquired a new stake in shares of Eli Lilly and Company (NYSE:LLY – Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,594 shares of the company’s stock, valued at approximately $1,979,000.
Other hedge funds have also recently modified their holdings of the company. Laurel Wealth Advisors LLC lifted its holdings in Eli Lilly and Company by 78,621.2% in the second quarter. Laurel Wealth Advisors LLC now owns 11,552,336 shares of the company’s stock valued at $9,005,392,000 after acquiring an additional 11,537,661 shares during the period. Norges Bank acquired a new position in shares of Eli Lilly and Company in the 2nd quarter valued at $8,827,714,000. Vanguard Group Inc. lifted its stake in shares of Eli Lilly and Company by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 80,407,430 shares of the company’s stock valued at $62,680,004,000 after purchasing an additional 1,183,038 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Eli Lilly and Company by 106.8% during the second quarter. Assenagon Asset Management S.A. now owns 1,481,031 shares of the company’s stock worth $1,154,508,000 after buying an additional 765,010 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Eli Lilly and Company by 13.4% during the second quarter. Franklin Resources Inc. now owns 4,766,865 shares of the company’s stock valued at $3,715,913,000 after buying an additional 564,736 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on LLY shares. Wall Street Zen upgraded shares of Eli Lilly and Company from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Zacks Research raised Eli Lilly and Company from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Daiwa Capital Markets set a $1,230.00 price target on Eli Lilly and Company and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Daiwa America raised Eli Lilly and Company from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 16th. Finally, Leerink Partners set a $1,234.00 target price on Eli Lilly and Company in a research note on Monday, January 5th. Five analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $1,169.00.
Here are the key news stories impacting Eli Lilly and Company this week:
Eli Lilly and Company Price Performance
NYSE:LLY opened at $1,063.90 on Friday. The stock has a 50 day moving average of $1,037.16 and a two-hundred day moving average of $861.18. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $1,133.95. The firm has a market cap of $1.01 trillion, a P/E ratio of 52.05, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. The company has a current ratio of 1.55, a quick ratio of 1.24 and a debt-to-equity ratio of 1.71.
Eli Lilly and Company (NYSE:LLY – Get Free Report) last issued its quarterly earnings results on Thursday, October 30th. The company reported $7.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.42 by $0.60. Eli Lilly and Company had a return on equity of 109.52% and a net margin of 30.99%.The firm had revenue of $17.60 billion for the quarter, compared to analyst estimates of $16.09 billion. During the same period in the previous year, the company posted $1.18 earnings per share. The business’s revenue was up 53.9% on a year-over-year basis. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. On average, analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.
Eli Lilly and Company Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th will be paid a dividend of $1.73 per share. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Friday, February 13th. This represents a $6.92 annualized dividend and a yield of 0.7%. Eli Lilly and Company’s dividend payout ratio is presently 33.86%.
Eli Lilly and Company (NYSE: LLY) is a global pharmaceutical company founded in 1876 and headquartered in Indianapolis, Indiana. The company researches, develops, manufactures and commercializes a broad range of medicines and therapies for patients worldwide. Eli Lilly maintains operations and commercial presence across North America, Europe, Asia and other regions, serving both developed and emerging markets. The company has been led in recent years by President and Chief Executive Officer David A.
Further Reading
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Shares of Eli Lilly & Co. LLY, +1.02%
shot up 9.0% into record territory in premarket trading Tuesday, after the drug giant reported second-quarter profit and revenue that climbed above expectations and provided a big boost its full-year outlook, as results were helped by the $579 million received from the sale of rights for Baqsimi. Net income jumped to $1.76 billion, or $1.95 a share, from $952.5 million, or $1.05 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $2.11 beat the FactSet consensus of $1.98. Revenue grew 28.1% to $8.31 billion, well above the FactSet consensus of $7.58 billion. Volume increased 29%, driven by growth in Mounjaro, Verzenio, Jardiance and Taltz, partially offset by lower volume from Alimta due to the loss of exclusivity. For 2023, the company raised its guidance ranges for adjusted EPS to $9.70 to $9.90 from $8.65 to $8.85 and for revenue to $33.4 billion to $33.9 billion from $31.2 billion to $31.7 billion. The stock, which was on track to open well above its June 30 record close of $468.98, has rallied 24.1% year to date through Monday while the S&P 500 SPX, +0.90%
has advanced 17.7%.
This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.
A national obsession with a new class of weight-loss drugs is turning dangerous, doctors and researchers say, as many patients are inappropriately prescribed Wegovy, Ozempic and similar medications and supply shortages generate a market for unauthorized, potentially risky copycat versions of these drugs.
Social media buzz about the drugs has promoted the mistaken perception that the medications are appropriate for a broad swath of people who may want to shed a few pounds–with disastrous consequences for some patients, doctors say. Patients who previously recovered from eating disorders, for example, are coming in for treatment because they “have had their eating disorder reactivated by use of these medications,” said Dr. Elizabeth Wassenaar, a regional medical director at the Eating Recovery Center, which specializes in treating the disorders. Some patients have wound up in the hospital, she said, and in some cases the providers who prescribed the drugs were unaware of the patients’ eating-disorder history. “It’s a real warning to people who prescribe these medications that it’s not without risk,” she said.
Some doctors also question whether the safety of the drugs has been adequately studied in older adults, who may have an undesirable loss of lean muscle mass when taking the medications. That complicates an ongoing debate about whether Medicare should cover these drugs for weight loss.
And patients of all types are put at risk, experts say, by the illegal production of knock-off versions of the medications. The Food and Drug Administration and several state pharmacy boards in recent weeks have warned that some compounding pharmacies are producing unauthorized versions of the drugs–which poses particular safety concerns for injectable drugs such as Wegovy, said David Margraf, a pharmaceutical research scientist with the Resilient Drug Supply Project at the University of Minnesota’s Center for Infectious Disease Research and Policy. “It’s not just a victimless crime,” he said. “People can be severely injured.”
Novo Nordisk NVO, +0.33%,
the maker of Wegovy and Ozempic, itself sought to tap the brakes on the craze around these drugs in a statement posted on its website this month, saying it’s concerned about reports of the drugs being used “for purely cosmetic or aesthetic weight loss,” unauthorized versions of the drugs hitting the market, and “insufficient clinical evaluations by some telehealth providers” promoting the drugs.
Drugs such as Novo Nordisk’s Wegovy, Ozempic and Rybelsus and Eli Lilly’s LLY, -0.36%
Mounjaro mimic the effects of a gut hormone known as GLP-1, which can help control blood-sugar levels and reduce appetite. (Mounjaro also affects another hormone called GIP.) Ozempic, Rybelsus and Mounjaro are FDA-approved for treatment of type 2 diabetes, while Wegovy is approved for people with obesity and certain people with excess weight combined with weight-related medical problems.
Billions of dollars in drug sales hinge on the breadth of the patient population prescribed these medications. Last year, more than 5 million prescriptions for Ozempic, Mounjaro, Rybelsus or Wegovy were written for weight management, up from just 230,000 in 2019, according to data and analytics firm Komodo Health. Obesity drugs could be a $54 billion market by 2030, up from $2.4 billion in 2022, Morgan Stanley said in a report last year. Reports of GLP-1 drug users seeing improvements in addictive behaviors such as smoking and drinking have lately amplified interest in the medications.
The drugs have become such a cultural phenomenon that Walmart during its quarterly earnings call last week blamed the medications for a shift in consumer-spending patterns that pressured its margins. In the first quarter, the company saw “a shift to health and wellness,” John Rainey, Walmart Inc.’s WMT, +0.18%
executive vice president and chief financial officer, said on the call with analysts. “And part of that is related to these GLP-1 drugs that are to treat diabetes,” he said, adding that the shift “comes at a lower margin, and so that has some impact on our business as well.”
Noom, a digital health company that for years has emphasized a behavioral approach to weight management, this week announced a new program that will make Ozempic, Wegovy, Mounjaro and other medications available to eligible patients. “Prescriptions are not the goal of our program. They’re very much an adjunct,” Dr. Linda Anegawa, Noom’s chief of medicine, told MarketWatch. Medical professionals will review patients’ entire health history, order labs to assess their metabolic health, and engage in video visits with patients as they determine what treatments might be appropriate, she said.
Telling your brain you’re not hungry
The reason GLP-1 drugs help control weight is pretty straightforward, said Dr. Daniel Drucker, who helped discover GLP-1 and is senior scientist at Lunenfeld-Tanenbaum Research Institute in Toronto. When people take these drugs, he said, they simply eat less because they feel more full. “GLP-1 will tell your brain that you’re not hungry,” he said, and people taking these medications may feel less stressed about food or find themselves thinking less about food. And the effects may go beyond eating, he said, as some people also see improvements in smoking, drinking, and other addictive or compulsive behaviors. “These are really interesting areas for further investigation,” he said. Drucker has been a consultant or speaker for Novo Nordisk, Pfizer PFE, -0.61%
and other pharmaceutical companies.
Novo Nordisk said in a statement to MarketWatch that it is not conducting any dedicated clinical studies to evaluate Ozempic, Rybelsus or Wegovy in patients with substance-use disorders or addiction-related illnesses, and Eli Lilly said it does not have any studies planned for investigating tirzepatide–the active ingredient in Mounjaro–for treatment of addiction.
Adolescents’ use of the drugs for weight loss is a particular concern for some doctors. Wegovy is approved for treatment of obesity in children 12 and older. “The adolescent mental health crisis is unprecedented,” said Wassenaar, with many teens suffering severe mood disorders, eating disorders, and suicidality, and teens struggling with depression may think, “if I lose weight, I’ll feel better and people will like me. There’s this magic drug, and all I have to do is inject it.” And if patients can start taking these drugs as early as 12 years of age, “we just don’t know what that’s going to do to them in 10 or 20 years,” she said, because there’s not enough long-term data.
Novo Nordisk said in a statement to MarketWatch that “teenage obesity is linked to weight-related health problems such as high blood pressure, high cholesterol and type 2 diabetes,” and that cutting calories and increasing physical activity may not be enough for some patients. “The decision to prescribe an anti-obesity medication is at the discretion of the physician and the patient/parents,” the company said.
Eli Lilly said that tirzepatide is not currently being studied for chronic weight management in children or adolescents.
Many patients may have trouble filling lower-dose Wegovy prescriptions through September, according to drugmaker Novo Nordisk.
Novo Nordisk via AP
Some doctors are also concerned about broad use of the drugs among older adults. Many older adults have sarcopenia, an age-related loss of muscle mass and strength that can contribute to frailty and fall risk later in life–and losing weight can mean an additional loss of muscle mass that may not be advisable for some patients, doctors and researchers say.
While “there’s a huge push to get Medicare to cover these drugs, it’s not really certain whether they would be helpful in this population or actually more harmful,” said Judy Butler, a research fellow at PharmedOut, a research and education project at Georgetown University Medical Center. Noom is not enrolling patients over age 60 in its new program, Anegawa said, partly because “we really don’t have enough data yet with many of these drugs in the geriatric population.”
In the pivotal clinical trials for Wegovy, 9% of the Wegovy-treated patients were between 65 and 75 years of age, and 1% were 75 and older, Novo Nordisk said in a statement. “No overall differences in safety or effectiveness have been observed between patients 65 years of age and older and younger adult patients,” the company said. In an ongoing cardiovascular outcomes trial, about 38% of patients are 65 or older, the company said.
By law, Medicare generally does not cover drugs prescribed for weight loss–although some drugmakers and industry groups are pushing to change that. Some of the drugs now generating intense demand also come with a hefty sticker price: Wegovy, for example, has an estimated annual net cost of about $13,600, according to the Institute for Clinical and Economic Review. If Medicare coverage rules changed and 10% of beneficiaries with obesity used Wegovy, total annual Medicare Part D spending on the drug could be as much as $26.8 billion, according to a recent study published in the New England Journal of Medicine. That’s more than 18% of the net total Part D spending by beneficiaries and the Medicare program in 2019.
Dangerous copycats
There are potential physical as well as financial costs. Side effects of the drugs can range from nausea and vomiting to gallbladder problems, inflammation of the pancreas, and thyroid cancer.
More broadly, some doctors question the prescribing of drugs solely based on obesity, absent other risk factors. “If somebody is obese and has diabetes, high blood pressure, and high cholesterol, losing weight may improve those parameters, but obesity on its own does not need to be treated,” said Dr. Adriane Fugh-Berman, a professor at Georgetown University Medical Center and director of PharmedOut. “It’s cardiovascular fitness that is important, no matter what weight you are,” she said. “We should stop focusing on the weight itself as a risk factor.”
Dr. Robert Gabbay, chief science and medical officer at the American Diabetes Association, counters that “obesity is a disease, and therefore needs to be treated as such.” Although there are people with obesity who don’t have other serious conditions, he said, “that’s relatively uncommon.”
Despite the concerns, shortages of the drugs persist. Novo Nordisk says it anticipates that many patients will have trouble filling lower-dose Wegovy prescriptions through September.
For patients who are relying on GLP-1 drugs for treatment of diabetes, even a short-term interruption in access to the drugs can cause blood-glucose levels to rise and result in serious complications, Gabbay said. Patients also tend to gradually ramp up dosage of these drugs to get to the effective dose, he said, and if they lose access to the medication “they might have to start back at the beginning again,” putting them several months behind on their treatment.
The shortages can also create risks for a broader set of patients, experts say, as they spur demand for copycat versions of the drugs. The approved active ingredient in Wegovy and Ozempic is semaglutide in its base form, but some compounding pharmacies may be using salt forms of semaglutide, the FDA said in a late April letter to the National Association of Boards of Pharmacy. “We are not aware of any basis for compounding a drug using these semaglutide salts that would meet federal law requirements” restricting the types of active ingredients used in compounding, the FDA said in the letter. Boards of pharmacy in several states, including West Virginia, North Carolina and Mississippi, have also recently issued warnings about compounded semaglutide.
Novo Nordisk said in the statement posted on its website this month that it is “actively monitoring and taking action against” entities unlawfully selling compounded semaglutide, adding that no FDA-approved generic versions of semaglutide currently exist.
Unauthorized compounded versions of the drugs could raise serious concerns about sterility and other quality-control issues, the Resilient Drug Supply Project’s Margraf said. “If this drug is in high demand and there isn’t enough supply, people will find a way to get it from a gray-market source,” he said. “People are going to find ways around the laws and potentially harm patients.”
Eli Lilly & Co.’s market cap neared Johnson & Johnson’s market cap on Friday, as the stock has benefited from a slew of positive data in trials for key treatments.
Earlier Friday, Lilly stock LLY, +0.00%
was on track to close with a greater market capitalization than J&J JNJ, -0.13%,
which would have marked the first time since 1997. Lilly stock ended flat, however, for the session at $434.43.
The stock has been steadily rising since the release of positive data from a trial of a treatment for Alzheimer’s disease in early May, showing significant slowing of cognitive and function decline in patients with early symptomatic Alzheimer’s disease.
Nearly half, or 7% of participants, had no clinical progression at one year, compared to 29% on placebo. The drug, called donanemab slowed clinical decline by 35% compared to a placebo and resulted in 40% less decline in the ability to perform activities of daily living, including managing finances, driving, engaging in hobbies and conversing about current events, the company said.
The company is planning to proceed with global regulatory submissions as quickly as possible and expects to make a submission to the U.S. Food and Drug Administration this quarter.
That’s not all. In April, Eli Lilly released data on its new obesity drug tirzepatide that showed patients in a trial losing up to 15.7% of their body weight, or about 34.4 pounds.
More than 80% of people taking tirzepatide lost at least 5% of their body weight, the company said, compared with about 30% of those taking a placebo.
The degree of average weight reduction seen in the trial “has not been previously achieved” in similar Phase 3 trials, Dr. Jeff Emmick, senior vice president for product development at Lilly, said in a statement.
Source: FactSet, Dow Jones Market Data
The company is planning regulatory submissions for that drug later this year. Tirzepatide was approved by the FDA last year as Mounjaro, a treatment for Type 2 diabetes.
Lilly has several other pipeline prospects, including lebrikizumab, a treatment for atopic dermatitis; mirikizumab for ulcerative colitis; empagliflozin, a treatment for chronic kidney disease; and pirtobrutinib for relapsed/refractory mantle cell lymphoma.
Lilly’s stock is up about 20% in the year to date and up 50% in the past 12 months.
Johnson & Johnson’s stock, meanwhile, has fallen 9% in the year to date and is down roughly the same over the past 12 months.
The company swung to a first-quarter loss as it booked a multibillion-dollar charge to settle lawsuits stemming from its talc-containing powders.
J&J booked a $6.9 billion one-time litigation charge relating to lawsuits filed by people alleging the company’s talc-containing powders caused cancers, asbestos poisoning and other illnesses. The company has offered to pay at least $8.9 billion to settle the suits, and remove an overhang on the stock.
Strategic Blueprint LLC reduced its holdings in Eli Lilly and Company (NYSE:LLY – Get Rating) by 8.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,703 shares of the company’s stock after selling 423 shares during the quarter. Strategic Blueprint LLC’s holdings in Eli Lilly and were worth $1,720,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Benjamin Edwards Inc. boosted its position in Eli Lilly and by 0.7% during the third quarter. Benjamin Edwards Inc. now owns 3,836 shares of the company’s stock worth $1,240,000 after purchasing an additional 28 shares during the period. Moloney Securities Asset Management LLC boosted its holdings in shares of Eli Lilly and by 0.6% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 5,000 shares of the company’s stock worth $1,617,000 after buying an additional 28 shares during the period. Auxano Advisors LLC grew its stake in Eli Lilly and by 2.1% in the 3rd quarter. Auxano Advisors LLC now owns 1,385 shares of the company’s stock valued at $448,000 after buying an additional 28 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings in Eli Lilly and by 4.6% in the 4th quarter. Hexagon Capital Partners LLC now owns 633 shares of the company’s stock valued at $232,000 after acquiring an additional 28 shares during the period. Finally, Wedge Capital Management L L P NC lifted its position in Eli Lilly and by 1.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 1,485 shares of the company’s stock worth $543,000 after acquiring an additional 28 shares during the last quarter. 82.13% of the stock is owned by institutional investors and hedge funds.
Eli Lilly and Stock Up 1.7 %
LLY stock opened at $368.29 on Friday. The stock’s 50 day moving average is $332.95 and its 200-day moving average is $344.45. Eli Lilly and Company has a twelve month low of $276.83 and a twelve month high of $384.44. The firm has a market capitalization of $349.99 billion, a PE ratio of 53.38, a P/E/G ratio of 2.01 and a beta of 0.36. The company has a quick ratio of 0.80, a current ratio of 1.05 and a debt-to-equity ratio of 1.37.
Eli Lilly and (NYSE:LLY – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.26. The business had revenue of $7.30 billion for the quarter, compared to analysts’ expectations of $7.39 billion. Eli Lilly and had a return on equity of 73.61% and a net margin of 21.88%. The business’s revenue was down 8.7% on a year-over-year basis. During the same period last year, the business earned $2.49 EPS. Sell-side analysts expect that Eli Lilly and Company will post 8.49 EPS for the current fiscal year.
Insider Buying and Selling at Eli Lilly and
In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $350.49, for a total value of $73,602,900.00. Following the transaction, the insider now owns 102,333,810 shares in the company, valued at approximately $35,866,977,066.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $350.49, for a total value of $73,602,900.00. Following the transaction, the insider now directly owns 102,333,810 shares of the company’s stock, valued at approximately $35,866,977,066.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Anne E. White sold 2,500 shares of the firm’s stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $342.76, for a total transaction of $856,900.00. Following the sale, the executive vice president now owns 60,426 shares of the company’s stock, valued at approximately $20,711,615.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 689,703 shares of company stock worth $237,930,004. Insiders own 0.13% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the company. StockNews.com began coverage on Eli Lilly and in a research note on Thursday, March 16th. They issued a “buy” rating for the company. Societe Generale cut shares of Eli Lilly and from a “hold” rating to a “sell” rating and set a $278.00 price target on the stock. in a research report on Wednesday, February 15th. Citigroup lowered their price objective on Eli Lilly and from $370.00 to $360.00 and set a “buy” rating for the company in a research report on Friday, March 3rd. Wells Fargo & Company upgraded Eli Lilly and from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $360.00 to $375.00 in a research report on Monday, March 13th. Finally, JPMorgan Chase & Co. lifted their target price on Eli Lilly and from $380.00 to $400.00 in a report on Wednesday, December 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $383.11.
Eli Lilly & Co engages in the discovery, development, manufacture, and sale of pharmaceutical products. The firm’s products consist of diabetes, oncology, immunology, neuroscience, and other products and therapies. The company was founded by Eli Lilly in May 1876 and is headquartered in Indianapolis, IN.
See Also
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Nearly two years after biotechnology stocks began to tumble, executives at small and midsize companies in the space are finally accepting that share prices aren’t bouncing back anytime soon.
With reality setting in, it’s a buyer’s market for companies looking for acquisitions and partnerships, according to many of the pharmaceutical and medical technology executives who gathered at this year’s
J.P. Morgan
healthcare investor conference, which wrapped up in San Francisco on Thursday.
It has taken just one day for Tesla Inc.’s stock to erase the entire bounce it enjoyed over the last three days trading sessions of 2022, as disappointing deliveries data helped trigger the biggest selloff in more than two years.
The stock’s TSLA, -12.24%
Tuesday drop knocked the electric vehicle maker’s market capitalization to 15th on the list of most valuation S&P 500 index companies.
On Tuesday, Tesla’s market cap fell below that of consumer products company Procter & Gamble Co. PG, +0.01%,
with a current market cap of $359.18 billion, and was just below Nvidia Corp. NVDA, -2.05%
at $352.15 billion, according to FactSet data. Tesla sat just above Chevron Corp. CVX, -3.06%,
which was at $336.43 billion. (See list of S&P 500’s 20 most valuable companies as of Tuesday’s closing prices below.)
Tesla’s stock took a $15.08, or 12.2% dive, to $108.10 on Tuesday, to lead the S&P 500’s SPX, -0.40%
decliners, after the company reported over the weekend that fourth-quarter deliveries that came up short of expectations for the third quarter in a row. It suffered the biggest one-day decline since it plummeted 21.1% on Sept. 8, 2020, and closed at the lowest price since Aug. 13, 2020.
With about 3.16 billion shares outstanding as of Oct. 18, the stock’s decline shaved about $47.62 billion off Tesla’s market cap, to bring it down to $341.35 billion. That’s a far cry from the peak market cap of $1.24 trillion reached exactly one-year ago.
If there’s a bright side to Tuesday’s stock selloff, it’s that even though the price fell below the Dec. 27 closing price, the RSI ended the day at 24.86, which is up from the Dec. 27 record low of 16.56.
That could be a preliminary sign of what chart watchers call “bullish technical divergence,” which is when prices make lower lows while the RSI makes a higher low. It’s still rather early to make that determination, however, as the stock needs to start bouncing again to see if RSI bottoms above the previous low.
Market caps of the Top 20 most valuable S&P 500 companies:
Eli Lilly & Co. engages in the discovery, development, manufacture and sale of pharmaceutical products. The firm’s products consist of Diabetes, Oncology, Immunology, Neuroscience, and Other therapies. The Diabetes products include Baqsimi, Basaglar, Humalog, Humulin, Jardiance, Lyumjev, Trajenta, and Trulicity. The Oncology products consist of Alimta, Cyramza, Erbitux, Retevmo, Tyvyt, and Verzenio. The Immunology products include Olumiant and Taltz. The Neuroscience products consist of Cymbalta, Emgality, Reyvow, and Zyprexa. The Other therapies include Bamlanivimab, Cialis, and Forteo. The company was founded by Eli Lilly in May 1876 and is headquartered in Indianapolis, IN.
