Eli Lilly & Co. (LLY) Proprietary Review Handicaps Sola in EXPEDITION-3 At 75% Success - BMO

September 26, 2016 7:51 AM EDT
Get Alerts LLY Hot Sheet
Price: $67.26 -0.66%

Rating Summary:
    19 Buy, 6 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 28 | Down: 20 | New: 17
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Eli Lilly & Co. (NYSE: LLY)
BMO Capital analyst, Alex Arfei, reiterated his Outperform rating on shares of Eli Lilly (NYSE: LLY) after conducting an extensive scientific review in Alzheimer's disease. He now estimates ~75% probability that Lilly's EXPEDITION-3 (E3) trial will meet its primary endpoint of slowing cognitive decline because E3 should amplify the results from E-1&2 with lower variance given its meaningfully larger, enriched sample, more sensitive single primary endpoint, and lower geographic variance.

The analyst believes LLY should appreciate 15-20% with this year-end catalyst with a downside risk of E3 failure at 20% with 25% probability.

No change to the price target of $94.

For an analyst ratings summary and ratings history on Eli Lilly click here. For more ratings news on Eli Lilly click here.

Shares of Eli Lilly closed at $81.16 yesterday.

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