Why Eli Lilly Shares Are Rising Today

Eli Lilly And Co LLY is trading higher Wednesday after the company highlighted its growth strategy and issued guidance above estimates.

Eli Lilly expects full-year 2021 adjusted earnings to be in a range of $8.15 to $8.20 per share versus the estimate of $7.13 per share. The company expects 2021 revenue to be in a range of $28 billion to $28.3 billion.

Eli Lilly Expects full-year 2022 adjusted earnings to be in a range of $8.50 to $8.65 per share. The company expects 2022 revenue to be in a range of $27.8 billion to $28.3 billion.

"We believe the continued uptake of our key growth products – which we expect will account for more than two-thirds of core business revenue in 2022 – coupled with our anticipated upcoming launches will allow Lilly to deliver top-tier, volume-driven revenue growth through at least 2030," said Anat Ashkenazi, senior vice president and CFO of Eli Lilly.

See Also: Foghorn Therapeutics Stock Surges After $1.5B Cancer Pact With Eli Lilly

Eli Lilly is a drug firm with a focus on neuroscience, endocrinology, oncology and immunology.

LLY Price Action: Eli Lilly has traded as high as $275.87 and as low as $157.83 over a 52-week period.

The stock was up 4.86% at $261.50 at time of publication.

Photo: Paul Sableman from Flickr.