This Big Pharma Stock Just Got an Upgrade. Is It Time to Buy?
Shares of Eli Lilly (NYSE: LLY) recently ticked higher in response to encouraging words from a Wall Street analyst who follows the pharmaceutical industry. Colin Bristow at UBS, an investment bank, thinks this is the most attractive pharma stock you can buy right now.
Is Bristow right about Eli Lilly? Before following any analyst after an upgrade or downgrade it's a good idea to understand why they're making a recommendation in the first place. Let's look at some of the reasons Bristow is excited about this pharma stock and weigh them against the risks.
In May, the FDA approved Eli Lilly's new diabetes drug, and analysts expect record-breaking sales. Mounjaro is a weekly injection for patients with type 2 diabetes. It's a first-in-class treatment containing a pair of hormones that control blood sugar called glucagon-like peptide-1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP).
Source Fool.com
