BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Bernstein Sees Buying Opportunity in Eli Lilly After Stock Plunge
Bernstein Sees Buying Opportunity in Eli Lilly After Stock Plunge
19
3
BTCCSquare news:
Eli Lilly shares rebounded 2.5% Monday after Bernstein called last week's 18% selloff excessive. The dip followed mixed results for oral weight-loss drug orforglipron, despite the pharmaceutical giant beating Q2 earnings estimates with 38% revenue growth.
Analyst Courtney Breen maintains the market overreacted, noting the $100 billion market cap erosion creates a compelling entry point. "Orfo" retains potential to expand Lilly's addressable market alongside blockbuster injectables Mounjaro and Zepbound.
Consensus forecasts suggest 32% annual earnings growth through 2029, with Breen projecting $22.84 EPS for 2024. The weight-loss drug market remains underpenetrated, leaving room for multiple successful therapies.
By:
