Eli Lilly Shares Rise Following Berenberg Upgrade to Buy
Eli Lilly (NYSE:LLY) shares rose 1.6% in premarket trading after investment bank Berenberg upgraded the stock from Hold to Buy and raised its price target to $1,400 from $1,220. The upgrade was based on Lilly's strong position in obesity and diabetes treatments, including Zepbound and Mounjaro, as well as expectations for approval of its oral GLP-1 drug Foundayo. Lilly reported that Foundayo has captured over 30% of new patients in the US oral obesity treatment market since launching in April 2026. The company also noted success with its Medicare Bridge program, which now serves around 600,000 eligible patients at a $50 monthly copay. IQVIA data shows Lilly holds about 61% of the US obesity treatment market compared to Novo Nordisk's 39%. Despite these gains in the pharmaceutical sector, broader U.S. equity futures were slightly lower ahead of the Federal Reserve’s policy meeting.
Topics: GLP-1 Drugs Market Share Obesity Treatments Pharmaceuticals