From Nasdaq:

Eli Lilly is gearing up for a promising year

Shares of Eli Lilly (NYSE: LLY) have gained an impressive 59% in 2023. The company’s CEO recently signaled that Eli Lilly intends to expand its partnerships or potentially acquire new biotech companies for research and development.

Eli Lilly set up several collaborations and recently made significant acquisitions, signaling a more aggressive approach to deals, even for more mature companies. This acquisitions-focused strategy presents both bullish opportunities and risks for the company.

Positive catalysts coming in 2024

Eli Lilly is expecting to impress with their positive catalysts in 2024 and beyond, including the scaling up of revenue from its diabetes and obesity drugs. These catalysts could keep the stock rising in the near term. The aggressive acquisitions and partnerships could pay off big, but there is a risk of overextending the company. Investors should look for a potential acceleration in the pace of deal-making due to this overarching bullish factor. That being said, investors should also be aware of the risk involving the company’s cash reserves and its debt levels.

Read more: Here’s What Investors Should Expect From Eli Lilly Stock in 2024