Company Performance and Revenue Forecast - Eli Lilly lowered its 2024 full-year revenue forecast, leading to a sharp decline in its stock price [1] - Sales of flagship weight-loss drugs Mounjaro and Zepbound grew slower than expected in Q4 2023, despite anticipated acceleration in H1 2024 [1] - The company reported Q3 2023 sales of these drugs below Wall Street's expectations, raising concerns about moderating demand [4] Stock Price Analysis and Technical Levels - Eli Lilly shares climbed 32% in 2023 but have slumped more than 16% since October 2023 [4] - Key support levels to watch are around $720 and $625, with potential entry points near these levels [5] - Important overhead resistance areas to monitor are near $860 and $965, with potential selling pressure in these regions [3][6] - The stock staged a decisive breakdown below the lower trendline of a symmetrical triangle and the 50-day MA, indicating further short-term downside potential [8][10] Market Sentiment and Trading Volume - The breakdown below the symmetrical triangle occurred on the highest trading volume day in more than two months, signaling strong selling conviction [8] - The stock could remain under scrutiny following the lowered revenue forecast and concerns about demand for its weight-loss drugs [10]

Key Points Company and Industry 1. **Company**: Eli Lilly and Company (NYSE:LLY) 2. **Event**: 43rd Annual J.P. Morgan Healthcare Conference 3. **Date**: January 14, 2025 4. **Participants**: - Dave Ricks - Chairman and CEO of Eli Lilly - Chris Schott - JPMorgan [1] Core Views and Arguments 1. **Disappointment in Meeting Expectations**: Eli Lilly acknowledges missing their own expectations but emphasizes the unprecedented nature of their business in terms of size, scale, and growth rate. 2. **Year 2024 Performance**: The company ended the year with $4 billion over their first-time guide, achieving a 32% growth rate on a strong base, with a Q4 exit growth rate of 45%. 3. **Zepbound Impact**: The launch of Zepbound contributed significantly to the company's growth during the year. [2][3] Other Important Content 1. **Learning from Challenges**: Eli Lilly acknowledges learning from their challenges in meeting expectations and aims to improve guidance for the future. 2. **Focus on Growth**: The company continues to focus on growth, leveraging the success of Zepbound and other initiatives. [2][3]

Revenue Forecast and Performance - Eli Lilly lowered its revenue forecast for the 2024 fiscal year, expecting full-year revenue of $45 billion, below the previously projected range of $45.4 billion to $46 billion [2][3] - Fourth-quarter revenue is expected to be approximately $13.5 billion, missing analysts' estimates of $13.97 billion [3] - The company's shares dropped nearly 7% to $746 in intraday trading following the announcement, despite a 17% gain over the past 12 months [6] Weight-Loss Drug Sales and Production - Sales of weight-loss drugs Mounjaro and Zepbound grew slower than expected in the fourth quarter, partly due to lower-than-expected inventory [2] - The company anticipates producing at least 60% more salable doses of these drugs in the first half of 2025 compared to 2024 [4][6] Future Outlook - Eli Lilly expects fiscal 2025 revenue to be between $58 billion and $61 billion, slightly above analysts' current projection of $59.33 billion [5] - The company plans to report fourth-quarter earnings and provide a full forecast for fiscal 2025 on February 6 [5]

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Bad news for Eli Lilly (LLY -7.27%) stock dragged down shares of rival companies in the market for GLP-1 diet drugs on Tuesday. Lilly updated investors on its expected revenue for 2024 this morning, and gave new guidance for 2025 revenue as well -- and while its 2025 prediction was a bit more than Wall Street had expected, its prediction for 2024 was a bit less.As of 10:45 a.m. ET, Lilly shares are shedding 6%. Archrival Novo Nordisk (NVO -5.05%) is down 3.3% in sympathy, while Viking Therapeutics (VKTX -11 ...

The Eli Lilly & Co. logo at the company's Digital Health Innovation Hub facility in Singapore, on Thursday, Nov. 14, 2024.Eli Lilly cut its revenue guidance on Tuesday as it said demand for its weight loss and diabetes drugs would not meet its lofty expectations.The drugmaker's shares dropped about 6% in early trading Tuesday.Eli Lilly said it now expects full-year 2024 revenue of about $45 billion. That's lower than the $45.4 billion to $46 billion the company anticipated in October. The new outlook would ...

Eli Lilly and Company TodayLLYEli Lilly and Company$797.17 -2.73 (-0.34%) 52-Week Range$612.70▼$972.53Dividend Yield0.75%P/E Ratio86.18Price Target$1,002.22Add to WatchlistEli Lilly & Co. NYSE: LLY is a major global pharmaceutical company in the medical sector. The company made headlines with its dominant GLP-1 drug, Tirzepatide, sold as Mounjaro for type 2 diabetes and Zepbound for obesity. While there are many potential contenders in clinical trials, the current GLP-1 market is a duopoly that Eli Lilly d ...

Eli Lilly expects its experimental weight loss pill will get approved as soon as early next year, CEO David Ricks told Bloomberg TV on Monday.The company is set to release key late-stage trial data on the drug, orforglipron, by the middle of this year.Eli Lilly is pushing to get the pill to market as it competes with Novo Nordisk and smaller rivals for a major share of the booming weight loss drug market. Eli Lilly's Zepbound and Novo Nordisk's Wegovy dominate the space, but the drugmakers and their competi ...

The acquisition will expand Lilly's oncology pipeline with STX-478, the differentiated and potentially best-in-class, mutant-selective PI3Kα inhibitor currently in a Phase 1/2 clinical trialSTX-478 could potentially address 30-40% of people with hormone-positive breast cancer, building on Lilly's advancements against this diseaseINDIANAPOLIS and BOSTON, Mass., Jan. 13, 2025 /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) and Scorpion Therapeutics, Inc. ("Scorpion"), a private biotechnology company develop ...