Eli Lilly Shares Surge Toward Record Highs on Strong GLP-1 Drug Demand
Eli Lilly (LLY) shares rose over 10% following a robust third-quarter earnings report, driven by skyrocketing demand for its GLP-1 medications, Mounjaro and Zepbound. The company reported Q3 revenue of $24.4 billion, a 39% increase year-over-year, with combined sales from its weight-loss and diabetes drugs reaching $16.1 billion for the quarter. In response to these results, Morgan Stanley raised its price target for LLY to $1,596. The company also upgraded its full-year 2026 revenue guidance to a range of $91 billion to $92 billion. Growth is further supported by the Medicare GLP-1 Bridge program, which has already seen over 500,000 sign-ups, signaling potential for broader insurance coverage and long-term market expansion.
Topics: Analyst upgrade Earnings report GLP-1 drugs Revenue guidance Weight loss market
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