Eli Lilly stock rose over 2% due to positive news from Novo Nordisk

From Nasdaq: 2025-01-24 17:28:16

Eli Lilly (LLY) stock rose over 2% on Friday, outperforming the S&P 500. This increase was due to positive news from Novo Nordisk (NVO) regarding their weight loss drug, Wegovy. Novo Nordisk reported a 10% reduction in body fat in a recent clinical trial of CagriSema, leading to a bullish outlook on Eli Lilly from Bank of America Securities analyst Tim Anderson. He reiterated a buy recommendation and a $977 per-share price target for Eli Lilly, highlighting the potential for their weight-loss drug, Zepbound, in the market. Novo Nordisk’s positive results indicate a promising future for both companies in the weight-loss drug sector.



Read more at Nasdaq: Why Eli Lilly Stock Topped the Market Today