Scotiabank Remains Bullish on Eli Lilly and Company (LLY)

Eli Lilly and Company (NYSE:LLY) is one of the most profitable NYSE stocks to buy right now. In a report released on December 12, Scotiabank analyst Louise Chen reiterated a Buy rating on Eli Lilly and Company (NYSE:LLY) and set a price target of $1,165.00.

In another development, Eli Lilly and Company (NYSE:LLY) announced on December 11 positive topline results from the Phase 3 TRIUMPH-4 clinical trial evaluating the efficacy and safety of the two highest investigational doses of retatrutide in adults with obesity or overweight and knee osteoarthritis, and without diabetes, as an adjunct to physical activity and healthy activity. Retatrutide is a first-in-class GIP, GLP-1, and glucagon triple hormone receptor agonist.

The company reported that its triple agonist, retatrutide, delivered weight loss of up to an average of 71.2 lbs in the first successful Phase 3 trial, along with substantial relief from osteoarthritis pain. Participants with obesity and knee osteoarthritis in TRIUMPH-4 lost an average of  28.7% of their body weight at 68 weeks after taking retatrutide 12 mg, with the treatment also reducing WOMAC pain scores by up to an average of 4.5 points (75.8%) while considerably improving measures of physical function. More than 1 out of 8 patients treated with retatrutide were reported to be completely free from knee pain at the end of the trial.

Eli Lilly and Company (NYSE:LLY) further reported that seven additional Phase 3 trials evaluating the investigational once-weekly treatment in obesity and type 2 diabetes are anticipated to be completed in 2026.

Eli Lilly and Company (NYSE:LLY) develops, manufactures, discovers, and sells pharmaceutical products. These products span oncology, diabetes, immunology, neuroscience, and other therapies.

While we acknowledge the potential of LLY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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