Why April Could Be a Huge Month for Eli Lilly Stock
Eli Lilly (NYSE: LLY) is the most valuable healthcare company in the world, worth more than $700 billion. Over the past 12 months, however, the stock's performance has been fairly lackluster, rising by just around 6%. Investors are beginning to scoff at its expensive price tag, with Eli Lilly trading at more than 70 times its trailing earnings.But there could be a big catalyst ahead in April, which may trigger a broad rally for the stock.A key drug that investors are going to be following this year is orforglipron, a once-daily pill that Eli Lilly is developing for weight loss and other indications. The early data has been encouraging, but the numbers which it will post from phase 3 trial results in the months ahead could indicate how likely it is that regulators will approve the drug.Continue reading
Eli Lilly (NYSE: LLY) is the most valuable healthcare company in the world, worth more than $700 billion. Over the past 12 months, however, the stock's performance has been fairly lackluster, rising by just around 6%. Investors are beginning to scoff at its expensive price tag, with Eli Lilly trading at more than 70 times its trailing earnings.
But there could be a big catalyst ahead in April, which may trigger a broad rally for the stock.
A key drug that investors are going to be following this year is orforglipron, a once-daily pill that Eli Lilly is developing for weight loss and other indications. The early data has been encouraging, but the numbers which it will post from phase 3 trial results in the months ahead could indicate how likely it is that regulators will approve the drug.
