Why Eli Lilly Stock Beat the Market Today While ResMed and AdaptHealth Sank
For both the biotech and pharmaceutical industries, what happens in the laboratory is critical to success (or failure, on the flip side).
Some good news from a clinical trial conducted by Eli Lilly (NYSE: LLY) boosted the share price of the pharmaceutical giant (by 0.5%) on Wednesday, leaving several rivals in the dust. These included device makers (NYSE: RMD), whose stock suffered a 6% blow, and AdaptHealth (NASDAQ: AHCO), with a nearly 2% decline.
Before market open, Eli Lilly announced that its molecule tirzepatide had achieved its primary endpoints in a set of phase 3 clinical trials. The studies aimed to judge its efficacy in treating obstructive sleep apnea (OSA), a common disorder in which people struggle to breathe properly while asleep.
Source Fool.com
Resmed Inc. Stock
Resmed Inc. is currently one of the favorites of our community with 19 Buy predictions and no Sell predictions.
As a result the target price of 207 € shows a slightly positive potential of 2.73% compared to the current price of 201.5 € for Resmed Inc..
