Lilly to Discontinue Development of Evacetrapib for High-Risk Atherosclerotic Cardiovascular Disease
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Piper Jaffray Cuts Price Target on Eli Lilly & Co. (LLY) Following Announced Discontinuation of Evacetrapib
October 13, 2015 8:38 AM EDTPiper Jaffray reiterated an Overweight rating on Eli Lilly (NYSE: LLY), and cut the price target to $118.00 (from $120.00), following the company's announced discontinuation of its CETP inhibitor evacetrapib. LLY's stock fell by 7.8% following the announcement.
Analyst Richard Purkiss commented, "Yesterday, LLY's stock fell by 7.8%... More
Eli Lilly's (LLY) Hold Rating Maintained at Deutsche Bank (MRK) (AMGN)
October 12, 2015 10:14 AM EDTDeutsche Bank maintained a Hold rating on Eli Lilly (NYSE: LLY) with a price target of $85. Shares declined following evacetrapib's failure, but sales were not factored into analyst Gregg Gilbert's estimates. Overall he is cautious on the CETPi class of drugs.
"LLY announced today the discontinuation... More
Lilly's (LLY) CETP Inhibitor Disappointment Seen as Positive for Esperion (EPSR) and PCSK-9, Says RBC (REGN) (AMGN) (SNY) (MDCO) (MRK)
October 12, 2015 9:13 AM EDTNews Eli Lilly (NYSE: LLY) plans to halt development of evacetrapib, a CETP inhibitor, has positive implications for PCSK-9 -related stocks and Esperion Therapeutics (NASDAQ: ESPR), said RBC analyst Michael J. Yee.
Yee explained, "The CETP class of drugs has been the primary competitive threat to other drugs like AMGN (Nasdaq: AMGN), REGN's (Nasdaq: REGN) PCSK-9 drugs now approved and ESPR's Phase III oral drug ETC-1002. Recall there is also one... More
