Is Eli Lilly Stock a Buy?
Over the past few months, global leaders in the pharmaceutical and biotech industries have entered newsworthy partnerships, accelerating human trials on an unprecedented level in the ongoing race for COVID-19 vaccines and treatments. With breaking developments hitting the news cycle almost daily, it's often hard to keep track of the companies leading the coronavirus race. Eli Lilly (NYSE: LLY) isn't receiving the same media buzz as companies like Moderna or Pfizer, but it ought to be.
Eli Lilly is currently running several human trials of prospective COVID-19 treatments. One of these treatment candidates is its anti-arthritic medication Olumiant (baricitinib), which the company is evaluating with the National Institute of Allergy and Infectious Diseases (NIAID) as a therapy option for critically ill COVID-19 patients. Eli Lilly is also partnering with privately held Canadian biotech AbCellera and Chinese company Junshi Biosciences on separate phase 1 human studies of prospective antibody therapies.
Amid the volatile coronavirus market, Eli Lilly shares have remained fairly resistant. The stock did dip slightly in March, along with much of the broader market, but has recovered nicely since then. Currently, Eli Lilly stock is sitting at just 14% below its 52-week high, while shares are up about 40% from their 52-week low.
Source Fool.com
