Why Is Eli Lilly (LLY) Stock Rocketing Higher Today

What Happened?

Shares of global pharmaceutical company Eli Lilly (NYSE:LLY) jumped 15.3% in the morning session after results from a Phase 3 trial showed that its experimental drug, Orforglipron, performed significantly well in helping patients manage obesity and diabetes. The stock's reaction suggested that investors were optimistic that, if approved, Lilly could scale production quickly and tap into the fast-growing diabetes and obesity markets.

The shares closed the day at $839.47, up 14.3% from previous close.

Is now the time to buy Eli Lilly? Access our full analysis report here, it’s free.

What The Market Is Telling Us

Eli Lilly’s shares are not very volatile and have only had 8 moves greater than 5% over the last year. Moves this big are rare for Eli Lilly and indicate this news significantly impacted the market’s perception of the business.

Eli Lilly is up 8% since the beginning of the year, but at $840 per share, it is still trading 12.5% below its 52-week high of $960.02 from August 2024. Investors who bought $1,000 worth of Eli Lilly’s shares 5 years ago would now be looking at an investment worth $5,340.

Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.