BUZZ - Bernstein raises Eli Lilly’s target price due to Mounjaro’s strong performance in international markets

October 26 - ** Bernstein has raised the target price for pharmaceutical company Eli Lilly (LLY.N) from $1,385 to $1,450; “Outperform” rating maintained

** The new target price offers a 13.86% upside from the stock’s closing price last Friday

** The broker expects Eli Lilly’s third-quarter revenue to reach $22.62 billion, driven by international sales of diabetes drug Mounjaro

** According to the broker, the “Medicare Bridge” program is expanding the obesity drug market and boosting demand for Eli Lilly’s Zepbound; as of the end of September, about 700,000 Medicare patients had started GLP-1 therapy, with Eli Lilly’s treatments accounting for about 70% of total prescriptions

** Bernstein analysts stated they will focus on eligible patient adoption rates, sales structure of Zepbound versus Foundayo, and whether demand is being driven by new patients rather than transitioning from self-pay to Medicare reimbursement

** As of Friday’s close, the stock had gained about 19% year-to-date

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