FDA Nudge Sends Pharma Stock to Fresh Record Highs

LLY has been on an impressive run up the charts in 2024Shares of Eli Lilly And Co (NYSE:LLY) are enjoying a 2.3% surge this morning, last seen trading near $885.10 on the back of news that the Food and Drug Administration (FDA) panel unanimously approved the pharmaceutical company's Alzheimer's drug, donanemab. The FDA cited effectiveness and a beneficial risk/reward outcome. In response, several analysts have donned praise, Jefferies hiking its price target to $994 from $957, saying the FDA backing is a go ...