Eli Lilly hits record high as healthcare stocks rally
LLY•Eli Lilly shares rose 5.45% to an all-time high of $1,307.91 as large-cap drugmakers and the S&P 500 Healthcare Index also advanced. The stock was up about 21% year to date.
1. Shares reach record
Eli Lilly shares climbed 5.45% to an all-time high of $1,307.91, above their previous 52-week high of $1,292.65. Other large-cap drugmakers, including Amgen, Pfizer, Johnson & Johnson and AbbVie, also rose in morning trading, while the S&P 500 Healthcare Index touched a record high.
2. Analyst views and deals
LSEG data showed 29 analysts rated Eli Lilly shares “buy” or “strong buy,” three rated them “hold” and one rated them “sell”; the median price target was $1,380.50. The company has broadened its drug pipeline through acquisitions and licensing deals, using cash flow from its diabetes and weight-loss medicines to support a wider dealmaking push.
