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

by | Aug 8, 2023 | Financial

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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