LLY - 2 High-Flying Growth Stocks You Can Buy Right Now Before They Surge Even Higher
2024-07-14 09:45:00 ET
Great stocks can be found in any market environment, even if share prices fluctuate with time. However, solid businesses with great financials and durable growth pathways will typically reflect that with relatively steady share price increases over time. If you're looking for top stocks to buy and hold for the long term, here are two companies to consider adding to the mix.
Shares of Eli Lilly (NYSE: LLY) have had a tremendous 106% run-up over the past 12 months. The company's expansion into the diabetes and weight loss drug markets has been a notable factor here. Both its diabetes drug Mounjaro and its weight loss drug Zepbound contain the same active ingredient -- the GLP-1 (glucagon-like peptide 1) receptor agonist tirzepatide.
Eli Lilly shares the GLP-1 market with Novo Nordisk , which markets its agonist, semaglutide, under the name Ozempic for diabetes and Wegovy for weight loss. Together, they are expected to dominate that space for some time. A recent report by J.P. Morgan estimates the global GLP-1 drug market will hit a valuation of about $71 billion by 2032, and forecasts that Eli Lilly and Novo Nordisk will each control approximately 45% of sales in the space.
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2 High-Flying Growth Stocks You Can Buy Right Now Before They Surge Even Higher