Why Eli Lilly Stock Beat the Market Today While ResMed and AdaptHealth Sank
For both the biotech and pharmaceutical industries, what happens in the laboratory is critical to success (or failure, on the flip side).
Some good news from a clinical trial conducted by Eli Lilly (NYSE: LLY) boosted the share price of the pharmaceutical giant (by 0.5%) on Wednesday, leaving several rivals in the dust. These included device makers (NYSE: RMD), whose stock suffered a 6% blow, and AdaptHealth (NASDAQ: AHCO), with a nearly 2% decline.
Before market open, Eli Lilly announced that its molecule tirzepatide had achieved its primary endpoints in a set of phase 3 clinical trials. The studies aimed to judge its efficacy in treating obstructive sleep apnea (OSA), a common disorder in which people struggle to breathe properly while asleep.
Source Fool.com
Resmed Inc. Stock
With 17 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
With a target price of 246 € there is a slightly positive potential of 13.21% for Resmed Inc. compared to the current price of 217.3 €.
