AAL

Eli Lilly Stock Rises on FDA Approval, Upgrade

The majority of analysts are leaning bullish toward LLY

Deputy Editor
Sep 22, 2022 at 10:03 AM
facebook X logo linkedin


Eli Lilly and Co (NYSE:LLY) is getting a boost today, after news that the U.S. Food & Drug Administration (FDA) approved its cancer drug Retevmo for new uses, including treatment of patients with a sub-group of advanced tumor. LLY received an upgrade today as well, with UBS upping its rating to "buy" from "neutral." The firm added a price-target hike to $363 from $335, praising the company's new weight-loss drug, Mounjaro. 

At last glance, LLY was up 2.2% to trade at $302.90. The stock yesterday pulled back to its lowest level in three months, though long-term support at the 160-day moving average prevented further losses. Year-to-date, the equity is up 7.3%. 

Today's upgrade has UBS joining an optimistic brokerage bunch, as 19 of the 25 in coverage now carry a "buy" or better rating. Plus, the 12-month consensus price target of $346.00 is a 16.7% premium to last night's close. 

 

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.