Eli Lilly Stock Hits a New All-Time High: Has It Gotten Too Expensive to Buy?
Yahoo Finance ·
Eli Lilly ( LLY +2.79% ) stock has been rallying in recent months, taking off from around $850 in late April to more than $1,200 as of Monday's close, for an increase of more than 40% over that stretch. It's a massive rally for the stock in such a short time frame, which has recently pushed it up to not only a new 52-week high but also a new all-time high. The healthcare giant's market cap has climbed back above the $1 trillion mark in the process. But the big question for investors is whether it's gotten too hot to buy; can Eli Lilly stock still be a good buy at around $1,200? Eli Lilly's stock took off after the healthcare company posted its quarterly results on April 30. The numbers showed tremendous growth for the company in the first three months of the year, with Eli Lilly's growth rate topping an impressive 56% -- higher than anything the company has achieved in the past decade. LLY Revenue (Quarterly YoY Growth) data by YCharts While Eli Lilly has been a good growth stock for years, its GLP-1 drugs, Mounjaro and Zepbound, have taken the company to yet another level. What's encouraging for investors is that the rollout of these drugs is still in the early stages, and the company only recently obtained approval for its GLP-1 pill, Foundayo, back on April 1. Eli Lilly had a terrific business before, and now it's become even better.
DYAX Investor Sentiment
Bullish (Long) 36% · Bearish (Short) 64%
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