Wall Street Bets Big on Eli Lilly: New Drugs Could Drive 300% EPS Growth
Analyst Chris Schott pointed to continued strength in sales of Mounjaro and Zepbound, with the latter accounting for roughly 75% of new treatment starts despite its removal from CVS Health's (CVS) preferred drug list.
JPMorgan said Eli Lilly is enrolling about 500,000 new obesity drug patients per month, and maintains more than 60% share in the category. The brokerage sees long-term growth potential driven by next-gen drugs, including orforglipron, a pill-based GLP-1 treatment in development, and the late-stage candidate retatrutide, referred to as Triple G.
Patent coverage into the 2030s reduces risk of near-term exclusivity losses, the note said, adding that earnings could surpass $55 per share by 2030, up from $13 in 2023.
Strong pipeline momentum and durable patent coverage continue to bolster investor confidence.
Based on the one year price targets offered by 26 analysts, the average target price for Eli Lilly and Co is $967.78 with a high estimate of $1190.00 and a low estimate of $675.00. The average target implies a upside of +22.40% from the current price of $790.65.
Based on GuruFocus estimates, the estimated GF Value for Eli Lilly and Co in one year is $1218.37, suggesting a upside of +54.10% from the current price of $790.65. Gf value is Gurufocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. For deeper insights, visit the forecast page.
This article first appeared on GuruFocus.
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