Eli Lilly's GLP-1 Penetration, Volume Seen in Early Stages, RBC Capital Markets Says

MT Newswires Live10-31 00:04

Eli Lilly (LLY) posted an "impressive" Q3 supported by strong GLP-1 sales and a $5 billion guidance raise exceeding expectations, RBC Capital Markets said in a Thursday note.

The firm noted GLP-1 market penetration and volume remain in the early stages despite lingering pricing concerns.

RBC raised its 2027 revenue estimate to $108.2 billion from $105.5 billion, and its EPS estimate to $51.68 from $48.29.

The firm said Mounjaro sales in the US are maturing and continue to grow in absolute terms, maintaining more than half of the US type 2 diabetes incretin analog market.

Foundayo growth remains modest, but the firm said new starts are skewing toward the targeted lower-body-mass-index population and that a potential type 2 diabetes indication represents the next material inflection point.

RBC Capital Markets maintained its outperform rating on Eli Lilly and raised its price target to $1,600 from $1,500.

Eli Lilly shares were 3.5% higher in Friday trading.

Price: 1421.68, Change: +47.97, Percent Change: +3.49

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