Novo Nordisk (NVO) has officially filed a request with the U.S. Food and Drug Administration seeking approval for an oral version of its well-known obesity treatment. This move marks a significant step in the company's strategy to expand its weight loss offerings and increase accessibility for patients who prefer pills over injections.
The competition in the weight loss drug market is intensifying, with Novo Nordisk vying against Eli Lilly (LLY, Financial) for market share. Recently, Eli Lilly announced successful outcomes from a wide-scale trial involving its oral GLP-1 therapy for diabetes. If Lilly's ongoing research into the drug's effectiveness in treating obesity is also successful, the company plans to submit for regulatory approval.
This dynamic between Novo Nordisk and Eli Lilly highlights the growing demand and innovation in the weight management market, as both companies work towards providing more convenient treatment options for individuals struggling with obesity. The outcome of these regulatory submissions could significantly impact the future landscape of obesity treatments.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 25 analysts, the average target price for Eli Lilly and Co (LLY, Financial) is $1,012.05 with a high estimate of $1,190.00 and a low estimate of $800.00. The average target implies an upside of 24.91% from the current price of $810.22. More detailed estimate data can be found on the Eli Lilly and Co (LLY) Forecast page.
Based on the consensus recommendation from 29 brokerage firms, Eli Lilly and Co's (LLY, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Eli Lilly and Co (LLY, Financial) in one year is $1126.67, suggesting a upside of 39.06% from the current price of $810.2229. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Eli Lilly and Co (LLY) Summary page.
