Why Eli Lilly Stock's Big Jump Last Week Could Be Just the Beginning of Another Huge Run
For a while, it seemed the streak was over for Eli Lilly (NYSE: LLY). Shares of the big drugmaker skyrocketed nearly 160% between early 2023 and mid-July of this year. However, Lilly's stock plunged almost 19% afterward -- until last week.
On Aug. 8, Lilly reported stellar second-quarter results and the pharma stock quickly soared more than 15%. Here's why Lilly's big jump last week could be just the beginning of another huge run.
Recent optimism around the stock is largely due to robust sales for three products: Mounjaro, Zepbound, and Verzenio. While sales for blockbuster breast cancer drug Verzenio vaulted 44% higher in the reported quarter, investors were even more excited about the results for Mounjaro and Zepbound, used to treat diabetes and promote weight loss.
Source Fool.com
