Retail investors buy Novo dip after disappointing weight-loss drug data [Yahoo! Finance Canada]
Eli Lilly and Company (LLY)
Last eli lilly and company earnings: 4/23 06:25 am
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Source: Yahoo! Finance Canada
Friday, as the Danish drugmaker's weaker-than-expected obesity drug data offered a rare dip-buying opportunity, according to Vanda Research. Daily net flows climbed to $15.6 million from $0.49 million a day earlier, after eagerly anticipated data showed Novo's experimental drug, CagriSema, helped patients cut 22.7% of their weight—short of the anticipated 25%. Novo competes with U.S. rival Eli Lilly in the burgeoning market for weight-loss treatments, which is projected to exceed $150 billion in revenue within the next decade. "Retail investors love to buy dips, especially in popular stocks..and do so, until that doesn't work anymore," said Marco Iachini, senior vice president of research at Vanda. Shares of Novo Nordisk dropped 27% on Friday, erasing over $100 billion in market value. Its U.S.-listed shares tumbled 21% to $81.50, their lowest level since August 2023. "Right now Novo only dipped below S&P 500 performance for the first time in 2 years so, probably too early t
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LLY
Earnings
- 10/30/24 - Miss
LLY
Sec Filings
- 12/17/24 - Form 4
- 12/17/24 - Form 4
- 12/17/24 - Form 4
- LLY's page on the SEC website