Eli Lilly

Eli Lilly Forecasts 2024 Sales Guidance Of $40.4B-$41.6B Versus Consensus Of $39.14B.

ELI LILLY AND COMPANY Posts Q4 Revenue $9.35B, vs. Street Est of $8.97B.

Eli Lilly (LLY) reported Q4 non-GAAP earnings Tuesday of $2.49 per share, up from $2.09 a year earlier. Analysts polled by Capital IQ expected $2.37. Revenue for the quarter ended Dec. 31 was $9.35 billion, up from $7.30 billion a year earlier. Analysts surveyed by Capital IQ expected $8.97 billion. The company said it expects fiscal 2024 non-GAAP EPS of $12.20 to $12.70 on revenue of $40.4 billion to $41.6 billion. Analysts surveyed by Capital IQ expect normalized EPS of $12.38 and revenue of $39.14 billion. Eli Lilly shares were up more than 4% in Tuesday pre-market activity.

By Peter Loftus Boundless demand for weight-loss and diabetes drugs fueled a sharp rise in Eli Lilly’s sales and profits–and the drugmaker still can’t make enough. Fourth-quarter sales of Lilly’s diabetes drug Mounjaro ( is also used off-label for weight loss–surged to $2.2 billion from $279 million a year earlier. The drug ( is on pace to soon become Lilly’s top-selling product, two years after its introduction. Lilly shares jumped 5% in pre-market trading Tuesday. Late last year Lilly introduced Zepbound ( which has the same ingredients as Mounjaro ( and is approved specifically for chronic weight management. In just a few weeks on the market in the fourth quarter, sales were $175.8 million. Like its rival Novo Nordisk, Eli Lilly is trying to expand its manufacturing capacity for these types of drugs. But Lilly said Tuesday it has experienced intermittent delays fulfilling orders for Mounjaro and an older diabetes

Revenue in Q4 2023 increased 28%. New Products(i) revenue grew by $2.19 billion to $2.49 billion in Q4 2023, led by Mounjaro and Zepbound. Growth Products(ii) revenue increased 9% to $5.27 billion in Q4 2023, led by Verzenio and Jardiance. Pipeline progress included FDA approval of Zepbound for adults with obesity or overweight with weight-related comorbidities and Jaypirca for chronic lymphocytic leukemia or small lymphocytic lymphoma under the Accelerated Approval Program. Additional progress included positive results from SYNERGY-NASH, a Phase 2 study of tirzepatide in adults with nonalcoholic steatohepatitis (NASH), also known as metabolic dysfunction-associated steatohepatitis (MASH). Business development activity included the completed acquisitions of POINT Biopharma Global Inc. and Mablink Biosciences SAS. Q4 2023 EPS increased 13% to $2.42 on a reported basis and increased 19% to $2.49 on a non-GAAP basis, both inclusive of $0.62 of acquired IPR&D charges. 2024 guidance issued with revenue in the range of $40.4 billion to

Eli Lilly Company (NYSE: LLY) ‘s 2024 guidance issued with revenue in the range of $40.4 billion to $41.6 billion, EPS in the range of $11.80 to $12.30 and non-GAAP EPS in the range of $12.20 to $12.70.

Eli Lilly Company (NYSE: LLY) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/05/2024 -10.95% Cantor Fitzgerald → $630 Reiterates Overweight → Overweight 02/01/2024 -10.95% Cantor Fitzgerald → $630 Reiterates Overweight → Overweight 01/24/2024 -1.05% Wells Fargo $650 → $700 Maintains Overweight 01/23/2024 -10.95% Cantor Fitzgerald → $630 Reiterates Overweight → Overweight 01/23/2024 -3.88% Barclays $630 → $680 Maintains Overweight 12/21/2023 -13.77% Daiwa Capital → $610 Downgrades Buy → Outperform 11/29/2023 -8.12% Truist Securities → $650 Reiterates Buy → Buy 11/20/2023 -10.95% Cantor Fitzgerald → $630 Reiterates Overweight → Overweight 11/17/2023 -10.95% Cantor Fitzgerald → $630 Reiterates Overweight → Overweight 11/15/2023 -10.95% Cantor Fitzgerald → $630 Reiterates Overweight → Overweight 11/09/2023 -24.37% Deutsche Bank → $535 Initiates Coverage On → Hold 11/08/2023 — JP Morgan Reiterates → Overweight 11/03/2023 2.06% Morgan Stanley $673 → $722 Maintains Overweight 10/23/2023 -4.58% Citigroup $525 →

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Following the rapid rally we saw in LLY shares since January 2 (+8.4%), we lift our target price to $702 from $665, 57.7x our 2024 EPS estimate, a premium to LLY’s historical forward P/E average, justified by the company’s strong revenue and earnings growth potential. We lower our 2023 EPS view by $0.10 to $6.60 and maintain our 2024 estimate at $12.17. We are encouraged by the positive results coming from LLY’s subsidiary Akuous Inc.’s gene therapy AK-OTOF phase 1/2 studies shared this week. The study showed hearing restoration in an 11-year old patient with severe hearing loss from birth after 30 days of the gene therapy’s administration. LLY also received approval in the U.K. yesterday for the four-dose version of its type 2 diabetes and weight

Johna Norton to Retire as Lilly Executive Vice President of Global Quality PR Newswire INDIANAPOLIS, Jan. 25, 2024 INDIANAPOLIS, Jan. 25, 2024 /PRNewswire/ — Eli Lilly and Company (NYSE: LLY) today announced that Johna Norton, executive vice president of Global Quality, will be retiring after 34 years of service with the company, effective July 31, 2024. She will continue to serve at full capacity in her role and as a member of Lilly’s Executive Committee until her retirement date. An internal and external search is actively underway for her successor. “Johna’s career has been built on her commitment to ensuring that our medicines are produced with the highest quality standards. By ensuring our company, manufacturing sites, production lines, team members and collaborators share this commitment, she has had a profound and positive impact on patients and our company,” said David A. Ricks, Lilly’s Chair and CEO. “During her tenure as

Eli Lilly and Company’s (LLY) fiscal 2024 revenue guidance may tilt higher than expected on the momentum of its new weight loss drug while its earnings forecast may come in short amid multiple ongoing late-stage trials, Morgan Stanley said Thursday. The brokerage increased its price target to $763 from $727 and reiterated an overweight rating on the stock ahead of financial results due Feb. 6. Eli Lilly is expected to report fiscal 2023 figures and provide initial guidance for the new year. The brokerage sees 6% upside to consensus revenue estimates for 2024 on a “solid launch” of Eli Lilly’s weight loss drug Zepbound in the US, which it said is tracking ahead of the company’s blood-sugar regulation drug Mounjaro at a similar time point. The Capital IQ consensus is for fiscal 2024 revenue of $38.92 billion. In 2024, Morgan Stanley now estimates Zepbound revenue of $6.1 billion, above the

Eli Lilly  Company (NYSE: LLY) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/21/2023 6.79% Daiwa Capital → $610 Downgrades Buy → Outperform 11/29/2023 13.79% Truist Securities → $650 Reiterates Buy → Buy 11/20/2023 10.29% Cantor Fitzgerald → $630 Reiterates Overweight → Overweight 11/17/2023 10.29% Cantor Fitzgerald → $630 Reiterates Overweight → Overweight 11/15/2023 10.29% Cantor Fitzgerald → $630 Reiterates Overweight → Overweight 11/09/2023 -6.34% Deutsche Bank → $535 Initiates Coverage On → Hold 11/08/2023 — JP Morgan Reiterates → Overweight 11/03/2023 26.39% Morgan Stanley $673 → $722 Maintains Overweight 10/23/2023 18.16% Citigroup $525 → $675 Maintains Buy 10/23/2023 10.29% Cantor Fitzgerald → $630 Reiterates Overweight → Overweight 10/20/2023 24.29% UBS $612 → $710 Assumes Buy → Buy 10/11/2023 17.81% Morgan Stanley $640 → $673 Maintains Overweight 10/09/2023 10.29% Cantor Fitzgerald → $630 Reiterates Overweight → Overweight 10/09/2023 13.79% Wells Fargo $615

Morgan Stanley analyst David Phung maintains Eli Lilly (NYSE:LLY) with a Overweight and raises the price target from $673 to $722.