LLY - Why Eli Lilly Stock Could Start Off 2024 With a Bang
2024-01-01 07:15:00 ET
Eli Lilly (NYSE: LLY) has been one of the hottest healthcare stocks to own in recent years. The company is now the most valuable healthcare company in the world, with a valuation of around $550 billion. So, investors may be wondering whether the stock has peaked, and perhaps it's time to hold off on buying it or cashing out their investments in the healthcare stock.
But that could be a mistake. Eli Lilly has a lot of growth left in its business. And while the hype has largely been around its weight-loss treatment Zepbound, investors shouldn't overlook another important catalyst, which could be just around the corner.
One of the most promising assets in Eli Lilly's pipeline is donanemab, which helps people with early Alzheimer's. In clinical trials, it has shown to be effective in slowing the rate of cognitive decline. Scientists found that it could slow the disease's progression by 29% based on the Clinical Dementia Rating Scale. That compares favorably to the 27% decline that Biogen 's Leqembi has demonstrated, and it obtained approval from regulators in July.
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Why Eli Lilly Stock Could Start Off 2024 With a Bang