Eli Lilly and Company ($LLY) Stock Forecast: Down 0.9% Today

What is Eli Lilly and Company?

Eli Lilly (LLY) is a pharmaceutical company known for its innovative drugs in various therapeutic areas, including diabetes, oncology, and neuroscience. Today, the stock experienced a strong bearish movement amidst a mixed performance in the healthcare sector.

Why is Eli Lilly and Company going down?

LLY stock is down 0.9% on Jul 3, 2024 15:06

• Eli Lilly (LLY) stock faced a bearish movement despite positive drug trial results for its GLP-1 weight-loss drug and the FDA approval of its Alzheimer's drug donanemab.
• The warning of a potential crash in the health care sector, including Eli Lilly, may have contributed to the bearish movement.
• Responding to lower drug price demands and analysts revising stock price targets could have added uncertainty and pressure on Eli Lilly's stock performance.
• The broader market shifts, especially in the healthcare sector, might have influenced investors to take a cautious stance, leading to the bearish movement in Eli Lilly's stock.

LLY Price Chart

LLY News

Healthcare and technology sectors show mixed results amid broader market shifts

Today''s stock market overview: Spotlight on healthcare and tech Today''s trading session presents a nuanced landscape, highlighted by disparate sector performances and sizable moves in key tech and healthcare stocks, as observed in the latest stock market heatmap. Let’s dive into the sectors and stocks that have defined the market today. Sector Overview Semiconductors: While Broadcom (AVGO) stands out with a robust gain of +1.12%, the semiconductor sector shows varied results. NVIDIA (NVDA) dipped slightly by -0.5%, contrasting modest gains seen by other players like Qualcomm (+0.88%). Technology: The broader technology sector reveals a mix of minor declines and gains, with Microsoft (MSFT) slightly down by -0.07% and Apple (AAPL) barely moving at +0.01%. This indicates a cautious stance among technology investors. Healthcare: Eli Lilly (LLY) showed promising movement with a gain of +0.39%. However, the pharmaceutical sector displayed mixed results, with Merck (MRK) seeing a slight decline of -0.36%.

https://www.forexlive.com/stock-market-update/healthcare-and-technology-sectors-show-mixed-results-amid-broader-market-shifts-20240703/

Top 3 Health Care Stocks That May Crash This Quarter - Eli Lilly and Co ( NYSE:LLY )

As of July 3, 2024, three stocks in the health care sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions. The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when ...

https://www.benzinga.com/news/24/07/39617741/top-3-health-care-stocks-that-may-crash-this-quarter

Novo Nordisk, Eli Lilly Respond to Lower Drug Price Demands

Manufacturers of diabetes and weight-loss drugs, Novo Nordisk (NYSE:NVO) and Eli Lilly (NYSE:LLY), responded to a column by President Biden and Sen…

https://www.tipranks.com/news/novo-nordisk-eli-lilly-respond-to-lower-drug-price-demands

Analysts revise Eli Lilly stock price targets

Eli Lilly (NYSE: LLY) recently made headlines with positive drug trial results for its GLP-1 weight-loss drug and its approval … Continue reading The post Analysts revise Eli Lilly stock price targets appeared first on Finbold .

https://finbold.com/analysts-revise-eli-lilly-stock-price-targets/

FDA approves a new Alzheimer''s drug from Eli Lilly

Evan Seigerman, BMO Capital Markets senior research analyst, joins ''Squawk Box'' to discuss the FDA''s approval of Eli Lilly''s Alzheimer''s drug donanemab, how much revenue it could add to Elil LIlly''s bottom line, and the details behind the newly approved drug.

https://www.cnbc.com/video/2024/07/03/fda-approves-a-new-alzheimers-drug-from-eli-lilly.html

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Eli Lilly and Company Price History

03.06.2024 - LLY Stock was down 0.4%

• Despite the positive movement in the healthcare sector, Eli Lilly (LLY) faced a bearish trend, possibly due to profit-taking or specific company-related factors.
• The bullish sentiment in the broader market did not translate into gains for Eli Lilly, indicating a divergence in investor sentiment towards the stock.
• It's possible that investors reacted to internal factors within the company rather than broader market trends, leading to the downward movement in Eli Lilly's stock price today.

06.01.2024 - LLY Stock was down 0.5%

• Eli Lilly's stock (LLY) had a strong bearish movement today.
• The company projected a significant revenue increase for 2024, driven by the demand for its diabetes and obesity drugs.
• The fourth-quarter earnings announcement showed a 5.8% increase in pre-market trading, primarily fueled by the popularity of Lilly's new diabetes drug, Mounjaro, and its anti-obesity medication, Zepbound.
• The strong launch of its weight loss drug, Zepbound, and higher prices for its blockbuster diabetes treatment, Mounjaro, contributed to the company's fourth-quarter revenue and adjusted earnings surpassing expectations. However, this positive news was not enough to prevent the bearish movement in the stock today.

06.01.2024 - LLY Stock was up 5.9%

• The bullish movement in LLY's stock can be attributed to the following factors:
• 1. Strong Q4 Results: Eli Lilly reported better-than-expected Q4 earnings and revenue, indicating a positive financial performance. This news likely boosted investor confidence and contributed to the bullish movement.
• 2. Revenue Growth: The company's fourth-quarter revenue of $9.35 billion, up 28% year-over-year, exceeded expectations. This growth was driven by higher realized prices, increased volume, and favorable foreign exchange rates.
• 3. Obesity Drug Demand: Eli Lilly also predicted a sales jump due to soaring demand for its weight-loss medication. This forecast of higher-than-expected annual revenue further fueled optimism among investors.
• 4. Positive Earnings Surprise: The company's Q4 earnings and revenue surprises, beating estimates by 0.81% and 5.53% respectively, indicate a strong performance and potential future growth.
• Overall, the combination of strong financial results, increased revenue, and positive market forecasts contributed to the bullish movement in Eli Lilly's stock.

06.01.2024 - LLY Stock was up 5.9%

• The bullish movement in LLY's stock can be attributed to the following factors:
• 1. Strong Q4 Financial Results: Eli Lilly reported fourth-quarter revenue of $9.35 billion, beating the consensus estimate. The increase in revenue was driven by higher realized prices, volume growth, and favorable foreign exchange rates. This positive financial performance likely boosted investor confidence and contributed to the bullish movement.
• 2. Exceeding Expectations: Eli Lilly's adjusted profit of $2.49 per share exceeded analysts' expectations, who were anticipating earnings of $2.30 per share. This outperformance indicates the company's ability to deliver strong financial results, which could have attracted investors and led to the bullish market movement.
• 3. Positive Drug Performance: The success of Eli Lilly's drugs, such as Zepbound and Mounjaro, in exceeding forecasts has contributed to the company's market leadership. This positive performance in key drugs likely generated optimism among investors, driving the bullish movement in the stock.
• 4. Revenue Growth Drivers: The revenue growth driven by drugs like Verzenio and Mounjaro, combined with the decline in Humalog and Trulicity, showcases Eli Lilly's ability to adapt and capitalize on market opportunities. This strategic approach to revenue growth may have further fueled investor optimism and contributed to the bullish market movement.
• Overall, Eli Lilly's strong financial results, exceeding expectations, positive drug performance, and revenue growth drivers have likely played a significant role in the bullish movement of its stock.

09.10.2023 - LLY Stock was down 5.1%

• LLY experienced a strong bearish movement today.
• The decline in LLY's stock price could be attributed to the market's reaction to the FDA approval of their weight loss drug, Zepbound.
• Analysts' comments on the weight loss drug and its potential impact on the company's long-term success may have influenced investor sentiment.
• The news of UnitedHealth PBM raising reimbursement tiers for insulin products, including those from Eli Lilly, could have also played a role in the bearish movement, as it may have raised concerns about pricing and competition in the diabetes treatment market.

02.10.2023 - LLY Stock was up 5.3%

• LLY stock rose as its third-quarter earnings exceeded expectations, driven by the success of its diabetes drug, Mounjaro, which saw a remarkable 652% growth.
• The CEO of Eli Lilly, David Ricks, discussed the company's strong quarterly results, highlighting the significant contribution of Mounjaro to the company's revenue.
• The surge in LLY stock could also be attributed to positive analyst calls and the overall performance of the company in the pharmaceutical sector.
• Despite a decline in sales of Trulicity, another diabetes drug, the impressive growth of Mounjaro overshadowed this decline, leading to the bullish movement in LLY stock.

09.07.2023 - LLY Stock was up 5.5%

• The bullish movement in LLY's stock can be attributed to the following factors:
• 1. Impressive earnings performance: Eli Lilly reported adjusted earnings per share (EPS) of $2.11 in the second quarter, surpassing Wall Street expectations. The company also saw a significant increase in net income compared to the same period last year.
• 2. Positive trial results: Encouraging trial results from Novo Nordisk, a competitor in the obesity-drug market, added to the positive sentiment around Eli Lilly. The promise of their expected obesity drug contributed to the bullish movement.
• 3. Upgraded guidance: Eli Lilly raised its full-year revenue and adjusted EPS forecasts, indicating strong confidence in future growth. The upgraded guidance further fueled investor optimism and pushed the stock to a new all-time high.
• 4. Market cap increase: The strong earnings and positive outlook led to a significant increase in Eli Lilly's market capitalization, adding around $60 billion. This surge in market cap reflects investor confidence and further propelled the bullish movement.
• Overall, Eli Lilly's impressive earnings, positive trial results, upgraded guidance, and market cap increase contributed to the strong bullish movement in the stock. The company's innovative drug treatments and promising prospects in the obesity-drug market have garnered investor attention and propelled the stock to new heights.

08.07.2023 - LLY Stock was up 12.2%

• Eli Lilly reported strong Q2 sales, beating consensus expectations, driven by the volume-driven growth of its products, including Mounjaro, Verzenio, Jardiance, and Taltz.
• The success of Eli Lilly's diabetes powerhouse, Mounjaro, in reducing cardiovascular events in obese adults has been a significant catalyst for the stock's rally.
• Analysts have praised the results of the study, stating that it is a "best-case scenario" for Eli Lilly and the obesity category as a whole.
• The positive sentiment surrounding Eli Lilly's earnings release and the anticipation of strong financial performance also contributed to the bullish movement of the stock.

08.07.2023 - LLY Stock was up 7.2%

• The bullish movement in LLY's stock today can be attributed to a combination of factors:
• 1. Weak China trade data: Despite the overall risk-off tone in global markets due to weak China trade data, LLY's stock managed to perform well, indicating resilience and investor confidence in the company.
• 2. Better-than-expected results: While not directly mentioned in the articles, the mention of Paramount Global reporting better-than-expected results for its second quarter may have contributed to positive sentiment towards the pharmaceutical sector, including LLY.
• 3. Lawsuit against Nektar Therapeutics: The news of Nektar Therapeutics suing Lilly for alleged misconduct in their drug development partnership may have had a positive impact on LLY's stock. Investors might perceive this as a potential opportunity for LLY to strengthen its position in the market.
• 4. Earnings anticipation: The mention of traders being bearish on LLY ahead of earnings suggests that there might have been a pessimistic sentiment surrounding the stock. However, the actual bullish movement could be a result of positive earnings expectations or better-than-expected earnings release.
• Overall, despite the weak China data and potential bearish sentiment, LLY's stock managed to defy the odds and experience a bullish movement, possibly driven by better-than-expected results and the lawsuit against Nektar Therapeutics.

27.05.2023 - LLY Stock was down 0.6%

• LLY had a strong bearish movement despite the positive news about their obesity drug, retatrutide, which helped patients lose up to 24.2% of their body weight.
• The market may have reacted to the news of iBio's new CEO and CFO appointments, which could be seen as a potential threat to LLY's market share.
• The overall market may also be experiencing some volatility, as seen by the premarket moves of other stocks.

26.05.2023 - LLY Stock was down 0.1%

• LLY had a bearish movement today, possibly due to the news of Pfizer's setback in its diabetes and weight-loss drug, which may have affected the market sentiment towards weight-loss drugs.
• The Wall Street Journal's report on the potential for weight-loss pills may have also contributed to the market movement, as investors may be uncertain about the competition in the market.
• There is no significant news about LLY's own products or clinical trials that could have caused the bearish movement.