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Eli Lilly hits record high after earnings, Mounjaro hype. Here’s what the pros are saying

Chaim Potok by Chaim Potok
August 8, 2023
in Investing
Eli Lilly hits record high after earnings, Mounjaro hype. Here’s what the pros are saying
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Market Movers rounded up the best reactions from investors and analysts on Eli Lilly . The experts, including Jim Cramer , discussed the drugmaker after it reported second-quarter revenue and earnings Tuesday that beat Wall Street estimates. The company also raised its full-year guidance as quarterly profit soared 85% from the same period last year. Shares of Eli Lilly hit an all-time high during intraday trading, perhaps also getting a boost from a Novo Nordisk trial. The study found Novo Nordisk’s obesity drug Wegovy, which shares some similarities with Lilly’s Mounjaro, cut the risk of heart disease in participants by 20%. Eli Lilly’s stock finished the day about 14.9% higher. LLY is currently held in Cramer’s Charitable Trust portfolio.

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