Eli Lilly, famed for its obesity and diabetes treatments, has experienced a 24.4% decline from its peak stock value as of mid-2024. This downturn is attributed to a revised revenue forecast for Q4 that fell short of analyst expectations. However, some analysts maintain optimism, with a notable price target of $1,250. Even with competition from companies like Novo Nordisk impacting momentum, Eli Lilly's overall sales continue to grow, suggesting potential for a recovery, although challenges in the weight loss sector remain a concern.
Eli Lilly's stock has seen a notable decline of 24.4% from its peak, primarily due to revised revenue forecasts and less-than-expected growth in weight loss drugs.
Despite a dip in momentum, many analysts remain bullish on Eli Lilly, with Citigroup's Geoff Meacham maintaining a Buy rating and a $1,250 price target.
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