Eli Lilly's (LLY) Reaction to Disappointing Evacetrapib Data Appears 'Overdone', Says BofA/ML
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Piper Jaffray Cuts Price Target on Eli Lilly & Co. (LLY) Following Announced Discontinuation of Evacetrapib
October 13, 2015 8:38 AM EDTPiper Jaffray reiterated an Overweight rating on Eli Lilly (NYSE: LLY), and cut the price target to $118.00 (from $120.00), following the company's announced discontinuation of its CETP inhibitor evacetrapib. LLY's stock fell by 7.8% following the announcement.
Analyst Richard Purkiss commented, "Yesterday, LLY's stock fell by 7.8%... More
Eli Lilly (LLY) Eva Failure Increases Dependence on Sola, BMO Capital Notes
October 12, 2015 11:12 AM EDTBMO Capital analyst Alex Arfaei reiterated a Market Perform rating and $90 price target on Eli Lilly (NYSE: LLY) after the company announced it would discontinue development of Evacetrapib in CV disease because of low efficacy. The firm called the news a "negative" although they... More
Lilly's (LLY) CETP Inhibitor Disappointment Seen as Positive for Esperion (EPSR) and PCSK-9, Says RBC (REGN) (AMGN) (SNY) (MDCO) (MRK)
October 12, 2015 9:13 AM EDTNews Eli Lilly (NYSE: LLY) plans to halt development of evacetrapib, a CETP inhibitor, has positive implications for PCSK-9 -related stocks and Esperion Therapeutics (NASDAQ: ESPR), said RBC analyst Michael J. Yee.
Yee explained, "The CETP class of drugs has been the primary competitive threat to other drugs like AMGN (Nasdaq: AMGN), REGN's (Nasdaq: REGN) PCSK-9 drugs now approved and ESPR's Phase III oral drug ETC-1002. Recall there is also one... More
UPDATE: Esperion (ESPR), Others Gains After Lilly Halts Development of Evacetrapib; Merch (MRK) Falls
October 12, 2015 8:15 AM EDT(Updated - October 12, 2015 8:30 AM EDT)
Esperion Therapeutics (NASDAQ: ESPR) gained pre-market Monday after Eli Lilly & Co. (NYSE: LLY) discontinued development of Evacetrapib. Other gainers include makers of PCSK9 cholesterol drugs Regeneron (NASDAQ:... More
Eli Lilly & Co. (LLY) to Discontinue Development of Evacetrapib
October 12, 2015 8:01 AM EDTEli Lilly and Company (NYSE: LLY) and the ACCELERATE study's academic leadership have accepted the recommendation of the independent data monitoring committee to terminate the Phase 3 trial of the investigational medicine evacetrapib, due to insufficient efficacy. Lilly will discontinue development of evacetrapib for the treatment of high-risk atherosclerotic cardiovascular disease and will now conclude other studies in the program.
The independent data monitoring committee... More
