Bernstein: 'Zepbound Continues to Propel Eli Lilly (LLY)'

Bernstein SocGen Group analyst Courtney Breen reiterated an Outperform rating and $1,100.00 price target on Eli Lilly (NYSE: LLY).

The analyst commented: "Zepbound continues to propel Lilly; In the week ending the 6th June, total GLP-1 scripts increased +11.6% on the previous week, following last week’s decline. We are once again at all time highs for scripts. Zepbound still firing on all cyclinders. Novo continues to lose share and growth year over year; they find themselves at their lowest share/growth rate in over a year. Whilst we believe the Novo’s $199/mo promotional deal for Wegovy should be captured in the IQVIA data (NovoCare scripts are not yet), it does not seem as though new prescriptions for Wegovy are ticking up any more than Zepbound. In fact NRx grew 23% for Zepbound vs 15% for Wegovy this week. Finally, based on commentary from the company we understand that NBRx (new to brand starts) for Zepbound in just the vial format are now above total Wegovy new starts."

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 $819.36 yesterday.

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