Eli Lilly (LLY) bounced sharply from its 52-week low of $623.78 earlier this month. This happened on strong trading volume. Buying momentum accelerated on Aug. 26, after the firm announced good news for its oral (by mouth) weight loss therapy.
Orforglipron achieved its main goals in a Phase 3 trial. As a result, Eli may proceed with a global regulatory submission for the once-daily GLP-1 receptor agonist.
Investors who want a deeply valued stock in this sector may consider Novo Nordisk. The discontinuation rate for the Novo drug is 4%, compared to 10% for Eli. Side effects are a risk factor for LLY stock.
AppLovin (APP) added 4.14% in Tuesday’s trading session. Investors continued to buy the APP stock dip after the firm posted strong second-quarter results on Aug. 6. The CEO said that it had limited its web advertising campaigns to the U.S. markets. On Oct. 1, it will open its platform to most major international markets.
Investors recognize that AppLovin’s addressable market expands from October onwards
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Keurig Dr. Pepper (KDP) shed another 6.91% yesterday and lost 17.66% in the last five trading sessions. Its $18.4 billion acquisition of JDE Peet’s is unsettling for shareholders. The firm could just as easily have split its Keurig coffee business from its soda drink unit.
KDP stock at $218.95 is still expensive. Investors may consider Mondelez (MDLZ), Pepsi (PEP), or Coca-Cola (KO) stock instead.
