BMO Raises Eli Lilly (LLY) Price Target, Keeps Outperform Rating

Eli Lilly and Company (NYSE:LLY) is one of the 14 Best Aggressive Growth Stocks to Buy According to Analysts. On July 29, BMO Capital increased its price target for Eli Lilly and Company (NYSE:LLY) from $900 to $920 and kept an Outperform rating.

This decision to raise the price target reflects the firm’s growing confidence in Eli Lilly and Company’s (NYSE:LLY) drug, orforglipron. This drug is approaching commercialization with Phase 3 ATTAIN 1 and 2 trials results expected to be released in the third quarter of 2025.

BMO Raises Eli Lilly (LLY) Price Target, Keeps Outperform Rating

BMO analysts expect the data for the ATTAIN-1 trial to be released in early to mid-August. The firm expects orforglipron will show more than 15% weight loss in the ATTAIN-1 trial, though tolerability may slightly get worse compared to the ACHIEVE-1 trial.

According to BMO Capital, Eli Lilly and Company (NYSE:LLY) could rise by 7% to 10% if the trial data is positive. This could also put pressure on competitors like Novo Nordisk A/S (NVO) and Amgen Inc. (AMGN).

Eli Lilly and Company (NYSE:LLY) is an American multinational pharmaceutical company focused on discovering, developing, and delivering innovative medicines.

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