Eli Lilly hits record, becomes 1st drugmaker to hit $1 trln market value

Shares of Eli Lilly LLY.N hit a record high of $1,061.98 on Fri and the company became the first drugmaker to hit $1 trillion in market value

The stock was last up 1.6% at $1,060.04

LLY shares are up ~37% for the YTD, compared with a roughly 13% gain in the S&P 500 .SPX, with the surge in popularity of Lilly's weight-loss drugs, Mounjaro and Zepbound, behind the rally

On October 30, Eli Lilly raised its full-year profit and revenue forecast, betting on higher demand for these blockbuster GLP-1 drugs.

Analyst recommendations on the stock include 25 "strong buy" or "buy" ratings and eight "hold" ratings, with the 12-mo median PT last at $998, according to LSEG