Lilly's fourth quarter revenue reached $19.29 billion, up 42.6% year-over-year, powered almost entirely by two products. Mounjaro generated $7.41 billion, up 110%, while Zepbound added $4.26 billion, up 123%.
The study published in the Lancet analyzed data from 381 patients with platinum-resistant ovarian cancer, revealing a 35% reduction in the risk of death among those treated with relacorilant compared to usual care.
RBC Capital analyst Luca Issi upgraded the stock to Outperform from Sector Perform with a price target of $35, up from $11. Wells Fargo also upgraded uniQure to Overweight from Equal Weight with a $60 price target. The catalyst: the departure of Vinay Prasad from the FDA. RBC views this as a positive for uniQure, noting it is "not inconceivable" that the FDA reverts to its prior stance, and believes Prasad's departure is likely to open up a more balanced discussion on risk/reward for Huntington's disease.