Jim Cramer Discusses Major Catalyst For Eli Lilly (LLY)

We recently published 8 Stocks on Jim Cramer’s Radar.  Eli Lilly and Company (NYSE:LLY) is one of the stocks on Jim Cramer's radars.

Eli Lilly and Company (NYSE:LLY) is another top Cramer healthcare stock. Over the course of the year, the CNBC TV host has praised the firm’s lead in the weight loss drug industry and its manufacturing capacity. Cramer has also asserted that Eli Lilly and Company (NYSE:LLY) has a robust drug pipeline that can help the firm in non-weight-loss drug markets. However, more recently, Bank of America cut the firm’s share price target to $1,268 from $1,286 on December 15th as it kept a Buy rating on the shares. In its note, the bank outlined that Eli Lilly and Company (NYSE:LLY) is expanding its presence into new markets, and the firm’s 2027 earnings can help capture its growth potential.

Discussing Eli Lilly and Company (NYSE:LLY), Cramer shared his thoughts on an area he regularly discusses. This area is the weight loss pill market, and he believes that if Eli Lilly and Company (NYSE:LLY) can successfully execute the pill’s development, then the firm could gain ground against Novo Nordisk:

“Now it’s interesting, Ely Lilly has a study which says basically you can take the pill and they’re gonna get business from Wegovy with the pill. It’s probably worth a hundred points, but people are, at this level, refusing to pay more, it’s almost a double top, I don’t think so, because if you can take the pill and switch from Wegovy, that could be game, set, match for Lilly, against Novo Nordisk.”

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