Cantor Fitzgerald Reaffirms Price Target on Eli Lilly (LLY) Despite GLP-1 Setback

Eli Lilly & Company (NYSE:LLY) ranks among the stocks with the best earnings growth for the next 5 years. Cantor Fitzgerald reaffirmed its Overweight rating and $925 price target for Eli Lilly & Company (NYSE:LLY) on October 17 following the exclusion of the company’s oral GLP-1 treatment, orforglipron, from the first group of medications to be granted Commissioner’s National Priority Vouchers (CNPV).

Following the decision, Eli Lilly’s stock was under pressure in after-hours trading, which Cantor Fitzgerald ascribed to “recent unrelenting speculation of a potential CNPV for orforglipron and some overly optimistic hopes for approval by YE25.”

The firm stated that the news coincided with “vague and at times contradictory GLP-1 pricing commentary,” which seemed to be a reference to ongoing negotiations over semaglutide pricing under the Inflation Reduction Act, which could be as low as $150 per month.

Eli Lilly & Company (NYSE:LLY) is a major global pharmaceutical company that develops, manufactures, and distributes a wide range of drugs. Founded in 1876, it has grown to become one of the world’s largest pharmaceutical companies.

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Disclosure: None. This article is originally published at Insider Monkey.