Eli Lilly set to snap six straight sessions of losses
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Eli Lilly (NYSE:LLY) shares were on track to snap six straight sessions of losses on Thursday, as the stock rose 1.9% at $790.83 in afternoon trade.
The Indianapolis-based company lost over 8% in the preceding six sessions. The stock has gained more than 35% so far this year, compared to the over 24% rise in the broader S&P 500 Index.
LLY is down 14% over the past one month. The stock closed 3.7% lower on Wednesday at $776.38.
Looking at Seeking Alpha’s Quant Rating, LLY has a Hold rating with a score of 3.13 out of 5. The company received A+ for growth and profitability, while it got an F in the factor of valuation.
Turning to the Wall Street community, 21 analysts gave LLY a Buy and above. Five analysts have given the stock a Hold recommendation, and one recommended Strong Sell.
Seeking Alpha analysts are also bullish and see the stock as a Buy.
Earlier in October, Eli Lilly missed on both the top and bottom lines in its Q3 financial results, but its sales grew 20%, driven by strong revenue growth in its GLP-1 tirzepatide franchise — Mounjaro for type 2 diabetes and Zepbound for weight loss.
“We remain positive on LLY’s position as an opportunistic long-term investment, with its sustained long-term earnings growth trajectory underpinned by a uniquely optimized monetization roadmap that remains underappreciated,” pointed out a Seeking Alpha analysis by Livy Investment Research.