ETFs to Buy as Eli Lilly Beats Q1 Earnings, Lifts Outlook
Written by Emily J. Thompson, Senior Investment Analyst
Source: NASDAQ.COM
- Eli Lilly and Company Earnings: Eli Lilly posted mixed first-quarter 2024 earnings, beating earnings estimates but lagging on revenues. The stock jumped 6% in response to the earnings beat.
- Revenue and Sales Growth: Revenues rose 26% to $8.77 billion, driven by strong sales of drugs like Mounjaro, Zepbound, Verzenio, and Jardiance. Mounjaro's sales saw a significant increase.
- 2024 Outlook: Eli Lilly raised its revenue guidance for 2024 due to tremendous sales growth for Mounjaro and Zepbound. Adjusted earnings per share were also increased.
- ETFs Exposure to Eli Lilly: Investors can consider ETFs with exposure to Eli Lilly, such as iShares U.S. Pharmaceuticals ETF, Horizon Kinetics Medical ETF, iShares U.S. Healthcare ETF, Health Care Select Sector SPDR Fund, and VanEck Vectors Pharmaceutical ETF.
- Details of Specific ETFs: Each ETF offers different exposure to Eli Lilly, with varying assets under management, fees, and risk outlooks.
Analyst Views on LLY
Wall Street analysts forecast LLY stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for LLY is 1192 USD with a low forecast of 950.00 USD and a high forecast of 1500 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
20 Analyst Rating
18 Buy
2 Hold
0 Sell
Strong Buy
Current: 1087.380
Low
950.00
Averages
1192
High
1500
Current: 1087.380
Low
950.00
Averages
1192
High
1500
About LLY
Eli Lilly and Company is a medicine company, which discovers, develops, manufactures, markets, and sells pharmaceutical products worldwide. Its cardiometabolic health products include Basaglar; Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, and others; Humulin, Humulin 70/30, and others; Jardiance; Mounjaro; Trulicity; Zepbound; VERVE-102; VERVE-201, and VERVE-301. Its oncology products include Cyramza, Erbitux, Tyvyt, and Verzenio. Its immunology products include Ebglyss, Olumiant, Omvoh, and Taltz. Its neuroscience products include Emgality and Kisunla. The Company is also engaged in radiopharmaceutical discovery, development, and manufacturing efforts, and clinical and pre-clinical radioligand therapies in development for the treatment of cancer. It is also developing an oral small molecule inhibitor of a4b7 integrin for inflammatory bowel disease (IBD). It is evaluating its novel gene therapy candidate, ixoberogene soroparvovec.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
