Eli Lilly (LLY) is a top stock pick in Ken Griffin’s portfolio, with BMO Capital reiterating its ‘Outperform’ rating and $840 price target on August 27. The positive stance follows successful clinical trial results for the weight loss drug orforglipron.

The ATTAIN-2 study demonstrated peak placebo-adjusted weight loss of 8.3% in obese patients with type 2 diabetes. These positive results position orforglipron for a potential FDA filing by year-end, enhancing Eli Lilly’s prospects in the weight loss market.

BMO Capital remains optimistic about orforglipron’s potential to boost Eli Lilly’s position in the weight loss market. The company’s shares are expected to trade higher as investor expectations have been reset following previous clinical trial results.

Read more at Yahoo Finance: BMO Capital Affirms Eli Lilly (LLY)’s ‘Outperform’ Rating on Weight Loss Drug Prospects