Eli Lilly (LLY) Higher on Alzheimer Drug Hopes, Though Results Fail to Impress Analysts
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Rating Summary:
25 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 8 | New: 1
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Recent studies of Eli Lilly's (NYSE: LLY) EXPEDITION in patients with mild Alzheimer's showed a statistically significant 34 percent slowing of cognitive decline versus placebo.
Analysts at MKM Partners said while the efficacy of Lilly's alzheimer’s drug was not overly impressive and longer-term trials are probably needed, he thinks enthusiasm for solanezumab will continue.
"Solanezumab reduced ADAS-cog14 by approximately two points vs. placebo, which was not overly impressive," said Jon LeCroy, Senior Analyst, Biotechnology and Pharmaceuticals.
"That said, the effects were linear over time, implying that the effects should continue in longer trials," he added.
Obviously this would be much more impressive and make solanezumab the first disease modifying treatment for Alzheimer’s as well as a mega-blockbuster. In the meantime, while LeCroy himself is unimpressed, he expects enthusiasm over the program to continue.
MKM Partners maintained a Neutral rating on Eli Lilly (NYSE: LLY) and raised its price target to $49.00 (from $44.00).
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 $50.78 yesterday.
Analysts at MKM Partners said while the efficacy of Lilly's alzheimer’s drug was not overly impressive and longer-term trials are probably needed, he thinks enthusiasm for solanezumab will continue.
"Solanezumab reduced ADAS-cog14 by approximately two points vs. placebo, which was not overly impressive," said Jon LeCroy, Senior Analyst, Biotechnology and Pharmaceuticals.
"That said, the effects were linear over time, implying that the effects should continue in longer trials," he added.
Obviously this would be much more impressive and make solanezumab the first disease modifying treatment for Alzheimer’s as well as a mega-blockbuster. In the meantime, while LeCroy himself is unimpressed, he expects enthusiasm over the program to continue.
MKM Partners maintained a Neutral rating on Eli Lilly (NYSE: LLY) and raised its price target to $49.00 (from $44.00).
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 $50.78 yesterday.
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