Why Eli Lilly Stock Is Jumping Today

Shares of Eli Lilly (NYSE: LLY) were jumping 8.3% as of 11:48 a.m. ET on Wednesday. The big gain came after the drugmaker provided an update for investors.

Lilly announced that it has initiated a rolling submission to the Food and Drug Administration for pirtobrutinib in treating mantle cell lymphoma. The company said that it's planning new phase 3 clinical studies evaluating tirzepatide in obesity outcomes, sleep apnea, and kidney disease. It also released new biomarker data showing positive efficacy for donanemab in treating Alzheimer's disease.

Investors were most excited, though, about Lilly's updated guidance. The company looks for full-year 2021 revenue to be between $28 billion and $28.3 billion, with adjusted earnings per share (EPS) between $8.15 and $8.20. Both ranges are well above consensus estimates.

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Source Fool.com