Three Must-Own Obesity Stocks to Buy Now
Obesity drug stocks continue to explode higher.
Look at Eli Lilly (SYM: LLY), for example.
In late July, we noted, “Oversold shares of Eli Lilly (SYM: LLY) could easily bounce higher on sales of its obesity drugs, which are still seeing considerable demand. And it could easily bounce higher with its Zepbound drug being considered for the treatment of sleep apnea.”
That was on July 31, as LLY traded at $795. Today, it’s up to $891.68.
All thanks to strong second quarter earnings and a Morgan Stanley note that LLY is its new “top pick.” Even better, the firm now has a new price target of $1,106 on LLY, noting that, “”We believe LLY offers the most attractive opportunity in our coverage for upside to consensus estimates, despite the stock’s outperformance.”
Or, look at Viking Therapeutics (SYM: VKTX).
The last time we mentioned VKTX, it traded at about $49. Today, it’s back to $57.16. From here, we’re looking for a retest of $70. Fueling upside, the company just announced plans to start a late-stage trial for its obesity drug VK2735 later this year.
“We are advancing this compound into Phase 3 development,” CEO Brian Lian said, as quoted by Seeking Alpha, adding that “we are currently preparing for an end-of-phase 2 meeting with the agency, which we expect to occur later this year.”
There’s also Novo Nordisk (SYM: NVO).
After dropping to a low of about $118, the NVO stock is just starting to pivot higher. Last trading at $133.47, we’d like to see it retest $147.50 near term.
Helping, Citi analysts just said NVO should be bought on its earnings pullback.
“History informs us Novo pullbacks represent great buying opportunities,” the firm said, as quoted by TheFly.com. The firm says only 1.4M people globally are currently on Wegovy, versus Novo’s scaling ambitions in the “double to triple digit millions” and an addressable market approaching 1B by 2030.
Related Reading: 132 million Americans are DESPERATE for this New Drug…from One Tiny Company.
Decades of Pent-Up Demand for this “First-Ever” Treatment Could Hand You WINDFALL PROFITS.
The Wall Street Journal Reports: The “King Kong” of drugs is coming.
Barron’s Reports: “It will be a blockbuster.”
The New York Post Reports: “it’s game changing.”
