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Eli Lilly Shares Trending On Retatrutide Win Ahead Of Earnings: What You Should Know

Benzinga·10/29/2026 03:07:20
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Eli Lilly and Co. (NYSE:LLY) shares are trending on Wednesday night.

Shares of the Indiana-based pharmaceutical company gained 1.89% to $1,312.68 in after-hours trading on Wednesday.

Retatrutide Doubles Ozempic’s Weight Loss In Phase 3 Diabetes Trial

The stock move came as Eli Lilly announced positive topline results from its Phase 3 TRANSCEND-T2D-2 trial of retatrutide. Retatrutide is an investigational, once-weekly triple agonist targeting the GIP, GLP-1 and glucagon receptors.

The open-label trial enrolled 1,298 adults with type 2 diabetes. It compared retatrutide with Novo Nordisk A/S’s (NYSE:NVO) Ozempic 2 mg. Retatrutide met the primary and all key secondary endpoints at 80 weeks.

Stock Heads Into Q3 Earnings

The drugmaker is set to report its third-quarter results on Thursday, before the market opens.

In the last quarter reported in August, Eli Lilly posted better-than-expected results. Revenue for the quarter came in at $22.97 billion, beating the analyst estimate of $20.44 billion by 12.4%.

Earnings per share of $8.38 topped the expected $6.01 by 39.4%.

Analyst Price Targets Point Higher For LLY Stock

Recent analyst actions:

Analyst Firm Previous Price Target Revised Price Target Rating
Leerink Partners $1,309 $1,316 Outperform
RBC Capital — $1,500 Outperform
Cantor Fitzgerald $1,410 $1,440 Overweight
Morgan Stanley $1,419 $1,430 Overweight

Trading Metrics, Technical Analysis

Eli Lilly and Co. has a market capitalization of $1.21 trillion, a 52-week high of $1,321.21 and a 52-week low of $809.63.

The Relative Strength Index (RSI) of LLY stands at 64.45.

The large-cap stock has gained 57.09% over the past 12 months.

Currently, LLY stock is positioned at 93.57% of its 52-week trading range, trading near its annual high.

Price Action: On Wednesday, the biotech stock closed at $1,288.30, up 0.42%, according to Benzinga Pro data.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo Courtesy: Jennie Book on Shutterstock.com