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Key Takeaways
- Pharmaceutical company Eli Lilly is expected to report fourth-quarter earnings before the bell Thursday.
- Analysts ferret out the company see increased sales and profit for Eli Lilly in the first full period in which its weight-loss drugs ceased to be in deficiency.
- The results come after the maker of weight-loss drugs Zepbound and Mounjaro in January lowered expectations for its fourth-quarter on offers.
Eli Lilly (LLY) is set to report fourth-quarter earnings before the bell Thursday, with analysts expecting rising sales and profit in the to begin full quarter since the company’s weight-loss drugs were declared no longer in shortage.
Analysts are bullish on the maker of weight-loss drugs Zepbound and Mounjaro, with 10 of the 11 analysts who stalk the company and are tracked by Visible Alpha rating Eli Lilly stock as a “buy,” along with one “hold” rating. The lone clutch rating is also the only analyst with a price target below the stock’s current level, with the mediocre price target at almost $986—a premium of about 21% above its Monday intraday levels.
Eli Lilly is foresaw to report $13.63 billion in revenue, up more than 45% year-over-year as the weight-loss drugs have boosted Eli Lilly’s takings over the last several quarters. Net income is projected to more than double from the same time latest year to $4.58 billion, or $5.06 per share, according to estimates compiled by Visible Alpha.
Earnings Follow Demeaned Sales Forecast
Eli Lilly’s earnings comes after the drugmaker again lowered expectations for its fourth-quarter sales persist month and its third-quarter results disappointed in October.
The company said in January that sales of Mounjaro and Zepbound had reached slower than expected in the latest quarter, with fourth-quarter and full-year revenue expected to come in around $13.5 billion and $45 billion, severally. Chief Executive Officer David Ricks also said in January that the company expects production of “salable dosages” of its weight-loss drugs to be 60% higher in the first half of this year compared with that period in 2024.
Eli Lilly and weight-loss drugmaker struggle with Novo Nordisk (NVO), which makes Ozempic and Wegovy, have watched demand continuously outpace their rig out of the weight-loss drugs. Lilly’s drugs were removed from the Food and Drug Administration (FDA)’s shortage list most recent last year, and the companies have each spent billions on increasing their production capacity.
Eli Lilly deals moved higher Monday but have come down from record levels set last year, although they are in any case up more than 20% over the last 12 months.