Eli Lilly (LLY) shares rose 16% during Thursday’s trading session. This rose up by up to 16% after researching that weight loss pills and Ozempic work. The company said it hopes to seek regulatory approval by the end of the year, and investors responded positively to the news.
Eli Lily said that the daily obesity pill achieved the company’s goals in the first first of several closely monitored late trials. The pill has reduced blood sugar and weight for type 2 diabetes, showing the same safety as common injections on the market, with some results in aligned with Wall Street expectations. Among other companies in the pharmaceutical industry, research results are highly anticipated, exceeding expectations and stocks are skyrocketing.
“We are delighted that our latest incretin medicine meets expectations for safety and tolerability, glucose control and weight loss. We look forward to additional data readings later this year,” company CEO David Ricks said in a release. The CEO added that the tablets are “easily manufactured and available for sale on a large scale for use by people all over the world.”
Eli Lilly (Lly) to hit a new ass?
Eli Lilly’s shares were one of the best performers on the US stock market on Thursday. Shares rose 14% on Thursday. This includes growth of more than 11% in pre-market trading. Trading volumes around inventory have also risen by almost three times. LLY stock is approaching its all-time high of stock at $972.53, which hit HIT in August 2024. The latest report in the survey hopes the stock will reach $1,000 for the first time, so it could surge towards its high in the coming days.
At current prices there is a great potential behind Lly stocks for investors. According to CNN data, LLY is traded in the middle of the 52-week range near a simple 200-day moving average. 90% of analysts surveyed by CNN suggest that it is now time to buy stocks, and advises that the remaining 10% be kept. Analysts also predict that the new ATH will be breached between $1,040 and $1,190 per share over the next 12 months.
