Eli Lilly (LLY) Stock: Wall Street Stays Bullish After Strong Prescription Data

TLDR

• Morgan Stanley reiterated an Overweight rating on Eli Lilly (LLY) with a $1,313 price target
• Mounjaro weekly prescriptions hit ~724,500, up from ~705,300 the prior week
• Zepbound prescriptions jumped to ~598,100, up from ~500,900 the week before
• Lilly’s GLP-1 franchise holds ~60% weekly new prescription market share
• Q4 EPS came in at $7.54, beating estimates, with revenue up 42.6% year-over-year

Eli Lilly’s two flagship weight-loss and diabetes drugs, Mounjaro and Zepbound, both posted prescription growth in the week ending February 27, 2026, according to IQVIA data cited by Morgan Stanley.

Eli Lilly and Company, LLY

Mounjaro reached approximately 724,500 total prescriptions for the week, up from around 705,300 the prior week. New prescriptions for Mounjaro came in at roughly 361,600, compared to 352,700 the week before.

Zepbound had an even sharper jump. Total prescriptions hit about 598,100, up from 500,900 the previous week. New prescriptions rose to 328,300 from 298,600.

Morgan Stanley kept its Overweight rating on LLY and held its price target at $1,313. The firm sees roughly 7% upside to its 2026 estimates for the two drugs combined.

Combined GLP-1 prescriptions for Lilly and Novo Nordisk grew approximately 30% year-over-year, reflecting continued strong demand across the category.

Lilly’s full GLP-1 lineup — Mounjaro, Zepbound, and Trulicity — held roughly 60% of weekly new prescription market share, ticking up from 59% the week prior.

Earnings and Financials

LLY reported Q4 EPS of $7.54, beating analyst consensus of $7.48 by $0.06. Revenue came in at $19.29 billion, well above the $17.85 billion estimate. That was up 42.6% from the same quarter a year earlier.

The company set its FY2026 guidance at $33.50–$35.00 EPS. Net margin for the quarter was 31.66%, and return on equity stood at 102.94%.

Lilly raised its quarterly dividend to $1.73, up from $1.50. The annualized payout now stands at $6.92, with a yield of around 0.7%.

The stock opened at $982.85 on Friday. Its 52-week range runs from $623.78 to $1,133.95. The 50-day moving average sits at $1,047.37, while the 200-day average is $937.23.

Analyst Ratings and Institutional Activity

Institutional ownership of LLY currently stands at 82.53%. Multiple firms added to positions during Q3 2026, including KCM Investment Advisors, which raised its stake by 14%, and M1 Capital Management, up 10.8%.

Integrity Advisory Solutions bought a new stake worth approximately $1.07 million during the quarter.

The consensus analyst rating sits at “Moderate Buy” with an average price target of $1,229.59. Wells Fargo lifted its target to $1,280 with an Overweight rating. Jefferies raised its target to $1,300, rating the stock a Buy. Royal Bank of Canada started coverage with an Outperform rating and a $1,250 target.

Seven analysts revised their earnings estimates upward following the Q4 report.

Lilly also launched its “Employer Connect” platform, designed to help employers offer coverage for obesity treatments, including Zepbound, at a $449 single-patient KwikPen price option.

Orforglipron, Lilly’s oral GLP-1 candidate, beat oral semaglutide in a Type 2 diabetes trial on both primary and secondary endpoints.

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