Citi Is Bullish On This Large Pharma Stock On Upcoming Data Readout From Diabetes Candidate

  • Citi has increased peak risk-adjusted Eli Lilly And Co's LLY tirzepatide forecasts (diabetes/ obesity/NASH) to more than $25 billion (previously $15 billion, consensus of around $16 billion). 
  • The analyst says that the ongoing feedback from physicians/payers continues to boost the optimism for broader access, reimbursement, and adoption amid the previously unforeseen glucose and weight-lowering properties. 
  • Citi increased the price target to $370 from $285 with a Buy rating.
  • Related: Eli Lilly Presents New Analyses On Tirzepatide Injection For Type 2 Diabetes.
  • Potential weakness for the drug could come when Eisai Ltd ESALY and/or Roche Holdings AG RHHBY release data of lecanemab and gantenerumab, respectively as an attractive opportunity to add to positions. 
  • Also Read: Eli Lilly Cuts Annual Profit Outlook After Q2 Earnings Miss; Plans To Begin Covid-19 Antibody Sale Commercially.
  • Citi expects around a 65% probability that LLY's TRAILBLAZERALZ 2 meets its primary endpoint in mid-2022. 
  • Price Action: LLY shares are up 0.51% at $320.51 on the last check Thursday.
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