Eli Lilly Rose More Than 50% So Far This Year. Can It Soar Past $1,000 in the 2nd Half?
The stocks that led gains in the S&P 500 Index in the first half primarily were in the field of tech, operating in the high-growth area of artificial intelligence (AI). But an exception emerged, and this company operates in the generally slower-but-steady growth business of pharmaceuticals. I'm talking about Eli Lilly (NYSE: LLY). The pharma giant's shares soared 55% in the first half as the company posted double-digit revenue growth -- and amid excitement about two products in particular.
Lilly sells Mounjaro and Zepbound, two of the most sought-after drugs for weight control. This market is booming today, with demand for these and other similar drugs surpassing supply. And the weight-loss-drug market could reach as much as $100 billion by 2030, according to Goldman Sachs research. Along with this, Lilly has a full portfolio of drugs across treatment areas, including a newly approved one for Alzheimer's disease.
So there are plenty of reasons to be excited about Lilly's future. But is this enough to push the shares, trading at around $900 now, past $1,000 in the second half? Let's find out.
Source Fool.com
