Latest news with #EvanSeigerman
Globe and Mail
2 days ago
- Business
- Globe and Mail
Pfizer (PFE) Gets a Buy from BMO Capital
BMO Capital analyst Evan Seigerman reiterated a Buy rating on Pfizer today and set a price target of $30.00. The company's shares opened today at $24.68. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Seigerman covers the Healthcare sector, focusing on stocks such as Bristol-Myers Squibb, Vertex Pharmaceuticals, and Eli Lilly & Co. According to TipRanks, Seigerman has an average return of 3.7% and a 46.49% success rate on recommended stocks. Currently, the analyst consensus on Pfizer is a Hold with an average price target of $28.44. PFE market cap is currently $140.7B and has a P/E ratio of 12.51.
Economic Times
2 days ago
- Business
- Economic Times
Eli Lilly's experimental GLP-1 pill may rival Ozempic and Wegovy? Check how much weight you could lose
Eli Lilly's experimental weight loss pill, orforglipron, demonstrated an average weight loss of 12% in a late-stage trial, falling short of Wall Street's expectations. Despite the positive results, shares of Eli Lilly fell, while rival Novo Nordisk's shares rose. The company plans to seek regulatory approval for the pill by the end of 2025. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Eli Lily on daily GLP-1 pills Eli Lilly's weight loss pill doesn't appear to work as well as Wall Street had hoped. The drugmaker said Thursday the highest dose of its daily obesity pill helped patients lose almost 12% of their body weight, or roughly 27 pounds, at 72 weeks in a late-stage trial. The result falls on the lower end of Wall Street's of the company fell around 13% on Thursday, according to CNBC. Meanwhile, shares of rival Novo Nordisk, which is also working to bring an obesity pill to the market, jumped more than 7% on Lilly, which makes the injectable drugs Zepbound to treat obesity and Mounjaro and Trulicity to treat diabetes, is among several companies chasing an effective pill form of GLP-1s. The only such pill available so far comes with strict diet restrictions and is approved to treat says that no food or water restrictions are needed with the experimental oral medication, orforglipron, and it can be taken any time of Lilly announced that its new orforglipron pill led to an average weight loss of up to 27.3 pounds, based on results from the first of two Phase 3 trials involving over 3,100 overweight or obese adults."With orforglipron, we're working to transform obesity care by introducing a potential once-daily oral therapy that could support early intervention and long-term disease management, while offering a convenient alternative to injectable treatments," Kenneth Custer, an executive vice president and president of Lilly Cardiometabolic Health, said in a statement. "With these positive data in hand, we are now planning to submit orforglipron for regulatory review by year-end and are prepared for a global launch to address this urgent public health need."Investors had high hopes that Lilly's pill, orforglipron, would match the effectiveness of Novo Nordisk's blockbuster weight-loss injection, Wegovy . In key trials, Wegovy helped users lose around 14% to 15% of their body weight — slightly below the weight loss seen with Lilly's competing shot, Zepbound.'There was hope that this would be a wonder drug,' BMO analyst Evan Seigerman said of Lilly's pill. 'What this shows to me is that it's still a good drug, but it's bound by the limitations of being a GLP-1.'Eli Lilly said that all adults participating in its Phase 3 trials experienced weight loss while taking orforglipron. Participants on the highest dose—36 mg—lost an average of 27 pounds over 72 weeks, equating to about 12% of their body weight. While this result is significant, it falls slightly short of the weight loss typically seen with some injectable treatments with the drugmaker noticing that about 10% of participants on the highest dose chose to discontinue the weight loss, trial participants saw improvements in cardiovascular markers, including reductions in systolic blood pressure, non-HDL cholesterol, and triglycerides. Negative side effects were similar in frequency and nature to those observed with injectable GLP-1 medications. The most commonly reported side effects were mild to moderate gastrointestinal issues such as nausea, constipation, indigestion, diarrhea, and Lilly is also evaluating orforglipron's effectiveness in adults with Type 2 diabetes. In April, the company shared that the pill may help lower hemoglobin A1C levels—a key indicator of average blood sugar over two to three months—while also supporting weight Lilly aims to seek global regulatory approval for its daily oral orforglipron pill by the end of 2025, positioning itself alongside rival Novo Nordisk, which is pursuing approval for an oral form of its Wegovy (semaglutide) treatment. However, federal health regulators are expected to require more comprehensive data on the drug's safety, tolerability, and effectiveness before moving forward with any potential approval.
Mint
2 days ago
- Business
- Mint
Eli Lilly shares tumble over 10% after disappointing weight-loss pill data
Eli Lilly & Co. tumbled as disappointing data on its new weight-loss pill overshadowed strong growth from the company's current obesity medicine, which helped drive it to raise its yearly profit and sales outlook. Lilly's results from an obesity pill study, a drug key to unlocking billions of dollars of growth, didn't perform as well as Wall Street expected. It resulted in lower weight loss and higher rates of nausea and vomiting than anticipated, side effects associated with so-called GLP-1 drugs. The data was a boon for rival Novo Nordisk A/S. 'There was hope that this would be a wonder drug,' BMO analyst Evan Seigerman said of Lilly's pill. 'What this shows to me is that it's still a good drug, but it's bound by the limitations of being a GLP-1.' Lilly fell more than 10% when markets opened in New York on Thursday. Novo rose as much as 14.3% in Copenhagen, the most in almost four months. Drugmakers are in a hotly contested race to dominate the market for obesity medications. Lilly had moved into pole position against Novo thanks to Zepbound, its powerful injectable drug, but Lilly's sky-high valuation is tied in part to eventually turning its weight-loss pill into a blockbuster. Investors say pills are a vital part of reaching more patients in the market that's expected to grow to $95 billion by 2030. But the science has proved to be a challenge. Pfizer Inc. and AstraZeneca Plc are among a handful of companies that have faced setbacks as they race to develop potent pills of their own. In Lilly's pill study, patients on the highest dose shed roughly 11% of their body weight, or 25 pounds, the company said. In late-stage trials, patients on Novo's injectable Wegovy lost about 15% of their weight over a 68-week period. The most common side effects were nausea, vomiting and diarrhea, which occurred at rates similar to existing GLP-1 drugs, Lilly said in a statement detailing the results. Notably, the medication didn't cause liver issues, a concern with other weight-loss pills in development. About 10% of patients dropped out of the study due to side effects. Lilly's data raise doubts over whether the pill, called orforglipron, can meet Wall Street's estimates of $12 billion in annual sales by 2030, Bloomberg Intelligence analysts John Murphy and Christos Nikoletopoulos wrote. The company defended the results, and said that small differences in weight loss in a clinical trial are of little importance to doctors and their patients. 'I know Wall Street has kind of focused on the exact numbers here and making cross-trial comparisons, but I don't think that carries over to to the real world at all,' Lilly Chief Scientific Medical Officer Daniel Skovronsky said on a conference call. The company plans to submit the findings from the 18-month study involving more than 3,100 adults to regulatory agencies for approval by the end of the year. Detailed results will be presented at a medical conference in September. If approved, Lilly's once-daily pill would likely hit pharmacy shelves next year. Orforglipron is easier to manufacture than its current injectable Zepbound and is expected to be a cheaper option for patients. Novo has filed an oral version of its weight-loss blockbuster Wegovy for US approval, but it's more complicated to produce than Lilly's and will likely have more dosing restrictions, such as when patients can eat and drink. For investors, it has been a further example of Novo slipping behind after its next-generation obesity drug, CagriSema, also fell short of expectations in clinical trials. But Lilly's result offered Novo a welcome narrative shift on the same day that Maziar Mike Doustdar takes over as CEO from Lars Fruergaard Jorgensen. Novo executives said their pill had the potential to be the best in its class on a call Thursday afternoon with analysts after Lilly's pill data was released. 'The numbers speak for themselves,' Chief Scientific Officer Martin Holst Lange said. On Thursday, Lilly also increased its sales projections for the year and now expects revenue between $60 billion and $62 billion, up from a range of $58 billion to $61 billion. The company said in a statement it expects 2025 profit to reach $21.75 to $23 a share, up from $20.78 to $22.28. Lilly's second-quarter sales were $15.6 billion, beating analysts' average estimates of $14.7 billion. Zepbound surpassed expectations, while the diabetes medicine Mounjaro beat the Street's view. Adjusted profits were $6.29 per share, which outpaced analysts' $5.57 per share expectation. The company expects CVS Health Corp.'s decision to drop Zepbound from its preferred list of medications for pharmacy patients to slow third-quarter growth. CVS earlier this year negotiated a deal with Novo to make Wegovy cheaper for health plans. Lilly executives initially shrugged off concerns over the move, but Chief Financial Officer Lucas Montarce said Thursday it took a bite out of Zepbound prescriptions in July. Adding to pressure, the entire pharmaceutical industry faces the threat of sector-specific tariffs and policies that would restrict what they can charge for medicines in the US. President Donald Trump said in a television interview on Tuesday pharma tariffs would be announced 'within the next week or so.' Last week, Trump also sent letters to 17 of the largest drugmakers, demanding they slash the price of medicines for US customers. Chief Executive Officer Dave Ricks was one of the executives to receive a personal letter from the president. The CEO said the company would work with the administration but warned that Trump's so-called most-favored nation policy could 'import foreign price controls' into a complex US system. 'We risk embracing the worst of two worlds: the low productivity and output of Europe's biopharma sector and the high out-of-pocket costs and distorted prices of the US insurance market,' Ricks said on a conference call with analysts.
Irish Examiner
2 days ago
- Business
- Irish Examiner
Eli Lilly shares drop after weight-loss 'wonder drug' disappoints
Eli Lilly shares fell as disappointing data on its new weight-loss pill overshadowed strong growth from the company's current obesity medicine, which helped drive it to raise its yearly profit and sales outlook. Lilly's results from an obesity pill study, a drug key to unlocking billions of dollars of growth, didn't perform as well as Wall Street expected. It resulted in lower weight loss and higher rates of nausea and vomiting, side-effects associated with so-called GLP-1 drugs. The data was a boon for rival Novo Nordisk. 'There was hope that this would be a wonder drug,' BMO analyst Evan Seigerman said of Lilly's pill. 'What this shows to me is that it's still a good drug, but it's bound by the limitations of being a GLP-1.' Novo rose as much as 14.3% in Copenhagen, the most in almost four months. Drugmakers are in a hotly contested race to dominate the market for obesity medications. Lilly had moved into pole position against Novo thanks to Zepbound, its powerful injectable drug, but Lilly's sky-high valuation is tied in part to eventually turning its weight-loss pill into a blockbuster. Eli Lilly has major operations in Ireland with facilities in Kinsale, Little Island and Limerick. Investors say pills are a vital part of reaching more patients in the market that's expected to grow to $95bn (€82.2bn) by 2030. But the science has proved to be a challenge. Pfizer and AstraZeneca are among a handful of companies that have faced setbacks as they race to develop potent pills of their own. In Lilly's pill study, patients on the highest dose shed roughly 11% of their body weight, or 25 pounds, the company said. In late-stage trials, patients on Novo's injectable Wegovy lost about 15% of their weight over a 68-week period. The most common side-effects were nausea, vomiting and diarrhoea, which occurred at rates similar to existing GLP-1 drugs, Lilly said in a statement detailing the results. Notably, the medication didn't cause liver issues, a concern with other weight-loss pills in development. About 10% of patients dropped out of the study due to side-effects. Competition Lilly's data raises doubts over whether the pill, called orforglipron, can meet Wall Street's estimates of $12bn (€10.4bn) in annual sales by 2030, Bloomberg Intelligence analysts John Murphy and Christos Nikoletopoulos wrote. The company plans to submit the findings from the 18-month study involving more than 3,100 adults to regulatory agencies for approval by the end of the year. Detailed results will be presented at a medical conference in September. If approved, Lilly's once-daily pill would likely hit pharmacy shelves next year. Orforglipron is easier to manufacture than its current injectable Zepbound and is expected to be a cheaper option for patients. Novo has filed an oral version of its weight-loss blockbuster Wegovy for US approval, but it's more complicated to produce than Lilly's and will likely have more dosing restrictions, such as when patients can eat and drink. For investors, it has been a further example of Novo slipping behind after its next-generation obesity drug, CagriSema, also fell short of expectations in clinical trials. But Lilly's result offered Novo a welcome narrative shift on the same day that Maziar Mike Doustdar takes over as CEO from Lars Fruergaard Jorgensen. Eli Lilly sales forecast On Thursday, Lilly also increased its sales projections for the year and now expects revenue between $60 billion and $62 billion, up from a range of $58 billion to $61 billion. The company said in a statement it expects 2025 profit to reach $21.75 to $23 a share, up from $20.78 to $22.28. Lilly's second-quarter sales were $15.6 billion, beating analysts' average estimates of $14.7 billion. Zepbound surpassed expectations, while the diabetes medicine Mounjaro beat the Street's view. Adjusted profits were $6.29 per share, which outpaced analysts' $5.57 per share expectation.
Reuters
4 days ago
- Business
- Reuters
Amgen profit rises, weight-loss data expected in 4th quarter
Aug 5 (Reuters) - Amgen (AMGN.O), opens new tab on Tuesday posted quarterly financial results that beat Wall Street expectations as a 9% increase in product sales offset higher operating expenses due in part to development of experimental weight-loss drug MariTide. The California-based biotech company's second-quarter revenue rose 9% from a year earlier to $9.2 billion. Adjusted earnings per share increased 21% to $6.02. Analysts had expected an adjusted profit of $5.29 on revenue of $8.94 billion, according to LSEG data. The "strong quarter for Amgen starts to reshape the narrative for the (company) as we look to the back half of the year," BMO Capital Markets analyst Evan Seigerman said in a research note. Shares of Amgen, which closed at $300.08, were down about half a percentage point at $298.50 in extended trading. Sales of cholesterol-lowering medication Repatha rose 31% to $696 million. Sales of bone drug Prolia fell 4% to $1.1 billion and the company said it expects further erosion this year due to new competition from biosimilars. Adjusted operating expenses rose 8% from a year earlier, while research and development costs rose 18%. The company said it expects to have data in the fourth quarter from two key mid-stage MariTide studies. One is testing the drug in obese or overweight adults with or without type 2 diabetes, while the second is looking at MariTide as a treatment for type 2 diabetes. MariTide is an antibody linked to a pair of peptides that activate receptors for the appetite- and blood sugar-reducing hormone GLP-1 while simultaneously blocking a second gut hormone called GIP. Several companies are working to develop weight-loss drugs, encouraged by booming demand for current medicines and estimates that sales of obesity treatments could hit $150 billion in the coming years. For the full year, Amgen slightly raised its financial outlook to adjusted earnings per share of $20.20 to $21.30 on revenue of $35 billion to $36 billion. It had previously forecast earnings of $20.00 to $21.20 per share on revenue of $34.3 billion to $35.7 billion. Analysts, on average, have estimated 2025 earnings of $20.91 per share on revenue of $35.4 billion. The company said its 2025 outlook includes the impact of implemented tariffs, but does not account for any future levies, including potential sector-specific tariffs, or pricing actions that could be implemented in the future. The pharmaceutical industry is facing intense pressure from U.S. President Donald Trump to lower prices Americans pay for prescription medicines, while preparing for 15% tariffs on imports from the European Union. Amgen CEO Robert Bradway, during a conference call with investors, said the company agrees that reform is needed in the U.S. healthcare system, but that it is too early to comment on specific plans. "We expect to work with the administration," he said. (This story has been refiled to spell out 'quarter' in the headline)
