Eli Lilly and Company (NYSE:LLY) is a pharmaceutical giant that has recently been identified as one of the Good Stocks to Buy Now. Jefferies, a reputable financial services company, reiterated a Buy rating on Eli Lilly and Company with a price target of $1,300 on March 20. This positive rating was based on the company’s prescription data for GLP-1 medications.
According to the data, Oral Wegovy, a new medication from Eli Lilly, has shown promising results with approximately 89,300 IMS prescriptions and 76,800 Symphony prescriptions in the 10th week of its launch. These numbers surpass the performance of similar drugs like injectable Wegovy and Zepbound. On the other hand, other GLP-1 drugs have witnessed declines in prescription numbers, with Zepbound falling by 3% to 17,100 prescriptions, Mounjaro dropping to 13,100, and injectable Wegovy decreasing by 3% to 9,710.
Jefferies also highlighted that the data for oral Wegovy is encouraging for Eli Lilly’s Orforglipron, which is set to have its PDUFA date on April 10, 2026. The firm projects $2 billion in 2026 Orforglipron revenue, exceeding the $1.55 billion consensus. This revenue is expected to contribute significantly to Lilly’s total revenue, which is guided to be between $80 billion to $83 billion.
Eli Lilly and Company is known for developing, manufacturing, discovering, and selling pharmaceutical products in various therapeutic areas such as oncology, diabetes, immunology, and neuroscience. While the company shows great potential as an investment, there are also other opportunities in the market. For instance, certain AI stocks offer greater upside potential and carry less downside risk. If you are interested in exploring undervalued AI stocks, consider checking out our free report on the best short-term AI stock.
In conclusion, Eli Lilly and Company’s performance in the pharmaceutical industry continues to be strong, with promising prescription data for their latest medications. Investors looking for opportunities in the healthcare sector may find Eli Lilly to be a compelling option, alongside other potential investments in the market.
