Eli Lilly Shares Hit New Highs as Access Deal Spurs Fresh Bullish Calls

Overview

• Eli Lilly stock has jumped about 27% over the past month to roughly $1,022, supported by strong Zepbound and Mounjaro sales and a newly announced U.S. access agreement.
• TD Cowen reaffirmed a Buy rating with a $960 target after the deal, calling Medicare coverage for Zepbound a positive while expecting the long-term pricing impact to be relatively modest.
• The agreement outlines a $50 monthly limit for Medicare beneficiaries on Zepbound and on orforglipron beginning April 1, 2026, subject to FDA approvals, with states able to offer coverage through Medicaid.
• LillyDirect will offer self-pay pricing after approvals at $299–$449 for Zepbound pens and $149–$399 for orforglipron, with Emgality, Trulicity, and Mounjaro priced 50%–60% below current list levels for cash payers.
• Analysts highlight Lilly’s GLP-1 lead over Novo Nordisk and note a rotation into healthcare, while valuation views diverge as Forbes flags a Very High multiple yet sees potential to $1,330.