NVO - This Analyst Sees Potential Downside In Eli Lilly Adjusts Model For Acquired IPR&D Charges | Benzinga
Cantor Fitzgerald analyst Louise Chen reiterated an Overweight rating on the shares of Eli Lilly And Co (NYSE:LLY) and maintained a price target of $885.
The company is slated to report its second-quarter FY24 earnings on August 8.
The analyst highlighted that Eli Lilly’s GAAP and non-GAAP financial results for 2Q24 will include acquired IPR&D charges of ~$154 million on a pre-tax basis, representing a charge of ~$0.14 to both GAAP and non-GAAP earnings per share.
The following are some of the points the analyst lists that are important for the company’s growth in the coming days.
The analyst expects U.S. approval for Lebrikizumab to treat atopic dermatitis in 2H24E.