What's Going On With Eli Lilly Stock Today?

Eli Lilly And Co LLY is set to announce its fourth quarter 2023 financial results next week on Tuesday, 6 February.

The analysts expect Eli Lilly to report $2.19 per share earnings and sales of $8.932 billion, according to data from Benzinga Pro.

Shares are trading on a session volume of 834.501K compared to the average volume (100 days) of 3.126 million.

Thursday, Cantor Fitzgerald reiterated its Overweight rating on Eli Lilly stock and maintained the price target of $630.

Eli Lilly faced renewed scrutiny in January as the FDA inspectors revealed additional manufacturing issues at its Branchburg, New Jersey plant. 

In a recent inspection conducted by the FDA in July, eight deficiencies were identified, ranging from problems in tracking the manufacturing process to lapses in equipment calibration and facility maintenance.

The FDA inspection, prompted by Eli Lilly's request for a change in the manufacture of migraine treatment Emgality, raised concerns about the overall quality control at the Branchburg facility. 

At the World Economic Forum's annual meeting, Eli Lilly unveiled plans to introduce its weight-loss drug Mounjaro (tirzepatide) in new countries this year while simultaneously expanding manufacturing capacity.

Almost a month back, the company announced a new website that allows patients to get a weight loss drug prescription through a telehealth provider.

LillyDirect offers disease management resources, including access to independent healthcare providers, tailored support, and direct home delivery of select Lilly medicines through third-party pharmacy dispensing services.

Price Action: LLY shares are up 1.32% at $669.14 on the last check Friday.

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