Bernstein SocGen Reiterates Outperform Rating on Eli Lilly (LLY)

Bernstein SocGen Group analyst Courtney Breen reiterated an Outperform rating and $1,300.00 price target on Eli Lilly (NYSE: LLY).

The analyst commented: "Yesterday Lilly’s Retatrutide TRIUMPH-1 (obesity) and TRANSCEND-1 (diabetes) phase 3 trials were presented & the day was capped with Lilly’s management meeting. While today and tomorrow will include some more Orforglipron data (Foundayo), we think important to share these insights immediately.

We were impressed by the data - more so than the discussant, see slides over-leaf. Retatrutide was highly tolerable - the 4mg dose (which generated no more discontinuations due to adverse events than placebo) - delivered 17% weightloss. While 12mg dose generated bariatric-like weightloss of ~30%. We were particularly impressed that despite the average starting BMI of 40, by the end of 80weeks, one-third of patients achieved a normal BMI (<25) and two-thirds of patients were no longer obese (<30). Similar to other incretins, female participants achieved deeper weightloss (~7ppt) compared with males. While HbA1c reductions in TRANSCEND did not clearly surpass that achieved with Tirzepatide, although many patients were reaching normo-glycemia, an apparent floor, and the combined effect of deep-glucose control & deeper weight-loss is still an important step-up for these patients that have a harder time losing weight."

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 $1131.42 yesterday.

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