Key TakeawaysEli Lilly shares set a record high on Tuesday after announcing that clinical trials of tirzepatide, the medicine used in the company’s diabetes drug Mounjaro and injectable weight loss treatment Zepbound, significantly reduced the risk of developing type 2 diabetes in patients. The stock has oscillated within a broadening wedge since early May last year, with an earnings-driven gap on Aug. 8 accelerating recent bullish momentum.Eli Lilly shares may encounter support around $885 and $790, but ru ...

The Big Pharma stock is up by more than 50% in 2024, but investment-bank analysts think it has more room to run.Shares of Eli Lilly (LLY 3.06%) have already soared by about 58% in 2024. Despite the run-up, many analysts on Wall Street think the pharmaceutical stock can climb a lot higher. Bank of America analyst Geoff Meacham is so encouraged by the company's recent progress with obesity, diabetes, and Alzheimer's disease that he thinks the stock can climb to $1,150 per share.Meacham's recently updated pric ...

Shares of Eli Lilly jumped Tuesday after a study showed its blockbuster weight-loss drug significantly reduced the risk of overweight patients developing type 2 diabetes. Results from a recent trial showed weekly shots of tirzepatide injections significantly reduced the risk of progression to type 2 diabetes by 94% among adults with pre-diabetes and obesity compared to the placebo, according to the pharmaceutical giant. The treatment with the drug, currently sold under the brand names Zepbound and Mounjaro, ...

The company had very encouraging news to report about its hottest product.The U.S. pharmaceutical stock of the moment, Eli Lilly (LLY 3.06%), did rather well on Tuesday. Its price closed the day more than 3% higher, on the back of some good news from the lab about its hottest product. What also helped was a glowing new research note from an analyst. The stock's performance looked even better when matched against that of the S&P 500 index, which dipped by 0.2%.Zepbound for gloryThat hot product is obesity tr ...

Scott Olson/Getty Images News Eli Lilly and Company's (LLY) tirzepatide (Mounjaro/Zepbound) continues to produce commercial and clinical wins. After a stellar second quarter earnings report and a $3 billion revenue guidance raise, Eli Lilly announced positive topline results from the SURMOUNT-1 trial where tirzepatide reduced the risk of progression to type 2 diabetes in adults with pre-diabetes and obesity/overweight compared to placebo. These results once again show the significant benefits of the incr ...

Key TakeawaysA three-year study of tirzepatide—the active ingredient in Eli Lilly's injectable weight-loss drug Zepbound and diabetes treatment Mounjaro—showed a 94% reduction in type 2 diabetes progression risk compared to a placebo.Patients who received tirzepatide lost 22.9% of their body weight on average, compared with 2.1% for patients who received a placebo.Eli Lilly shares jumped to an all-time high on Tuesday, bringing their year-to-date return to more than 60%. Eli Lilly (LLY) stock jumped to a re ...

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Eli Lilly And Co (NYSE:LLY) announced today preliminary results from a late-stage study indicated the main ingredients Zepbound and Mounjaro of weight-loss drug tirzepatide reduced the risk of progression to type 2 diabetes by 94%. Additionally, patients saw weight reduction of about 15% to 23%, depending on drug dosage.In response, LLY is up 2.4% to trade at $943.22 at last check. The shares are bouncing off a pullback from a July 15, record high of $966.10 to the $740 region, with a newfound floor at the ...

An Eli Lilly & Co. Zepbound injection pen arranged in the Brooklyn borough of New York, US, on Thursday, March 28, 2024.Eli Lilly's highly popular weight loss drug reduced the risk of developing Type 2 diabetes by 94% in obese or overweight adults with pre-diabetes compared to a placebo, according to initial results from a long-term study released on Tuesday. The late-stage trial on tirzepatide, the active ingredient in the company's weight loss injection Zepbound and diabetes drug Mounjaro, also found that ...

176-week SURMOUNT-1 Phase 3 study in adults with pre-diabetes is the longest completed trial of tirzepatide to date Tirzepatide resulted in sustained weight loss through the treatment period, averaging a 22.9% decrease in body weight with the 15 mg dose at end of treatmentResults are consistent with the combined pharmacology of GIP and GLP-1 receptor agonismINDIANAPOLIS, Aug. 20, 2024 /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) announced today positive topline results from the SURMOUNT-1 three-year st ...