Lilly’s Price Target Rises to $1,251, $3.8B Vaccine Deals and 62% LDL Reduction
LLY•BofA Securities raised its price target to $1,251 from $1,133 and maintained a Buy rating after boosting its GLP-1 and obesity outlook. Lilly agreed to $3.8B in vaccine deals and reported VERVE-102 gene-editing therapy reduced LDL by up to 62% for 18 months with no serious adverse events.
1. BofA Raises Price Target
BofA Securities lifted its price target on Eli Lilly to $1,251 from $1,133, citing stronger-than-expected demand for obesity and diabetes treatments. The firm maintained a Buy rating, forecasting U.S. GLP-1 sales to double by 2033 and noting Lilly’s obesity pipeline could offset tirzepatide exclusivity loss in 2036.
2. $3.8B Vaccine Acquisitions Expand Pipeline
Eli Lilly agreed to acquire vaccine candidates from Curevo, LimmaTech Biologics and Vaccine Company in deals totaling up to $3.8 billion. The transactions include a $1.5 billion agreement for a shingles prevention candidate, $780 million for bacterial pathogen programs, and $1.55 billion for an early-stage Epstein-Barr virus platform.
3. VERVE-102 Shows Strong Early Data
Early Phase 1b results from the Heart-2 study of VERVE-102 showed up to 62% LDL cholesterol reductions sustained through 18 months, with no serious adverse events reported. The base-editing therapy targets PCSK9 and has Fast Track designation, with a Phase 2 trial slated to begin later this year.
