3 High-Flying Stocks That Could Soar Even More

Group 1: Eli Lilly - Eli Lilly's shares increased by 59% in 2023 and are up nearly 40% year-to-date, indicating strong momentum [2] - The company's weight-loss drug Zepbound generated over $517 million in sales in Q1 2024, following its U.S. approval in November 2023 [2] - Mounjaro, another drug from Lilly, saw sales more than triple year-over-year in Q1 to $1.8 billion [2] - Positive results from a late-stage study for tirzepatide as a treatment for obstructive sleep apnea were reported, with plans for regulatory filings [3] - Lilly's pipeline includes candidates for Alzheimer's, autoimmune diseases, and metabolic disorders, suggesting continued growth potential [4] Group 2: Novo Nordisk - Novo Nordisk's shares have risen by 28% in 2023, with total returns exceeding 140% since 2022 [5] - The company reported a 22% year-over-year sales increase in Q1 to 65.3 billion Danish kroner ($9.8 billion) and a 28% increase in earnings to 25.4 billion Danish kroner ($3.8 billion) [6] - For the full year, Novo Nordisk projects operating profit growth of 22% to 30%, excluding foreign currency impacts [6] - The weight loss candidate amycretin showed promising early trial results, with participants losing an average of 13% of body weight in 12 weeks [7] Group 3: Vertex Pharmaceuticals - Vertex Pharmaceuticals has a monopoly in the cystic fibrosis market and has delivered strong financial results over the past decade [8] - The company recently received regulatory approval for Casgevy, a gene-editing therapy for sickle cell disease and beta-thalassemia, indicating significant sales potential [8] - Vertex is expanding its pipeline with new treatments, including suzetrigine for acute pain and Inaxaplin for kidney disease, with meaningful progress expected in the next year [9]