Companies
Eli Lilly rallies to a record on weight-loss drug sales
Eli Lilly shares closed at a record on Friday after Mounjaro and Zepbound sales beat estimates and the drugmaker raised its 2026 sales forecast, bucking a broad market drop.
Quick Read
- Eli Lilly shares rose 3.2% to a record close on Friday while the S&P 500 slid 1.8%.
- Third-quarter results beat estimates on strong Mounjaro and Zepbound sales, and the company raised its 2026 sales forecast.
- Lilly lowered its 2026 adjusted earnings forecast, citing charges from research projects acquired in recent deals.
- Scotiabank, Truist Securities, RBC Capital, Argus Research and Wells Fargo raised their price targets.
How much did Eli Lilly shares rise?
Eli Lilly (NYSE: LLY) shares rose 3.2% on Friday and closed at a record $1,417.54. The gain added $41 billion to the drugmaker's market value, which stood at $1.3 trillion.
Why it matters: The move ran against the broader market. The S&P 500 slid 1.8% and the Nasdaq-100 dropped 3.5%. The health care sector fund rose 0.5%.
What did the company report?
Lilly reported third-quarter results on Thursday that beat the consensus, the average analyst forecast, for profit and revenue.
Sales of Mounjaro, a diabetes drug, and Zepbound, a weight-loss drug, led the growth. Worldwide Mounjaro revenue and U.S. Zepbound revenue each rose sharply, according to the company.
Lilly also raised its guidance, its own forecast, for 2026 sales. The new range sits above the consensus, according to reports.
Chief executive David Ricks said on the earnings call that interest from middle-income households and uptake of the Medicare GLP-1 Bridge program had helped the company.
How did analysts respond, and what is the catch?
Analysts at Scotiabank, Truist Securities, RBC Capital, Argus Research and Wells Fargo raised their price targets after the report. A price target is the level an analyst expects a stock to reach.
Scotiabank analyst Louise Chen kept a Sector Outperform rating, a view that the stock may do better than its peers. “We think this is deserved because LLY’s execution continues to outpace Street expectations,” Chen wrote.
The news was not all upbeat. Lilly lowered its 2026 adjusted earnings forecast, though the new range still sits above the consensus. The company tied the cut to charges for research projects bought in recent deals, including AtaiBeckley and Merida Biosciences.
What comes next?
What’s next: Beyond Lilly's own news, the broader market faces the October jobs report on Nov. 6 at 8:30 a.m. ET. The October consumer price index, the monthly inflation report, follows on Nov. 10. Those reports could shape expectations for interest rates, which reach nearly every stock, including Lilly.
For readers
What it could mean for you: Lilly is among the largest U.S. companies, so people with an S&P 500 or total-market index fund in a 401(k) or IRA already hold some of it. Its gain reaches those funds only in proportion to its weight. If Lilly's market value keeps growing, its moves could carry more weight in those funds. The inflation report on Nov. 10 may matter more, since rate news can move nearly every holding together.
Questions and answers
Why did Eli Lilly stock rise?
Lilly beat third-quarter profit and revenue estimates on sales of Mounjaro and Zepbound. It also raised its 2026 sales forecast, and analysts at Scotiabank, Truist Securities and others lifted their price targets.
What are Mounjaro and Zepbound?
Mounjaro is Lilly's diabetes drug and Zepbound is its weight-loss drug. Sales of these drugs led the company's revenue growth in the third quarter.
Did Eli Lilly cut any forecast?
Yes. Lilly lowered its 2026 adjusted earnings forecast, though the new range still sits above the analyst consensus. The company tied the change to charges for research projects acquired in deals including AtaiBeckley and Merida Biosciences.
The numbers
| Eli Lilly (LLY) price | $1,417.54 |
|---|---|
| Eli Lilly (LLY) change | +3.19% |
| Eli Lilly (LLY) market value | $1.3 trillion |
| Eli Lilly (LLY) 52-week high | $1,417.54 |
| S&P 500 change | −1.82% |
| 10-year Treasury yield | 4.94% |
Friday’s close
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