Eli Lilly (LLY) Offering Possible 11.61% Return Over the Next 21 Calendar Days

Eli Lilly's most recent trend suggests a bullish bias. One trading opportunity on Eli Lilly is a Bull Put Spread using a strike $202.50 short put and a strike $197.50 long put offers a potential 11.61% return on risk over the next 21 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $202.50 by expiration. The full premium credit of $0.52 would be kept by the premium seller. The risk of $4.48 would be incurred if the stock dropped below the $197.50 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Eli Lilly is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Eli Lilly is bullish.

The RSI indicator is above 80 which suggests that the stock is in overbought territory.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for Eli Lilly

Lilly's (LLY) Bamlanivimab Combo Lowers COVID-19 Hospitalization
Wed, 27 Jan 2021 15:23:03 +0000
Eli Lilly's (LLY) combination of its COVID-19 antibodies bamlanivimab (LY-CoV555) plus etesevimab (LY-CoV016) reduces COVID-19-related hospitalizations and deaths by 70%.

Vir Will Test Its Covid-19 Antibody With Eli Lilly’s, Sending Shares Up Again
Wed, 27 Jan 2021 15:08:00 +0000
The newly announced trial is the first effort to combine Covid-19 antibody therapies developed by different companies.

The Daily Biotech Pulse: Sorrento, Immutep Surge On COVID-19 Study Data, T2 Biosystems Sinks On Preannouncement
Wed, 27 Jan 2021 12:35:59 +0000
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech Stocks Hitting 52-week Highs Jan. 26) Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) Aslan Pharmaceuticals Ltd (NASDAQ: ASLN) (reacted to new preclinical data showing its investigational asset ASLAN003 have the lowest potential for hepatotoxicity) BIOLASE Inc (NASDAQ: BIOL) (reacted to its preliminary fourth-quarter results) BioNano Genomics Inc (NASDAQ: BNGO) CASI Pharmaceuticals Inc (NASDAQ: CASI) Cassava Sciences Inc (NASDAQ: SAVA) Clearpoint Neuro Inc (NASDAQ: CLPT) Cleveland BioLabs, Inc. (NASDAQ: CBLI) DarioHealth Corp (NASDAQ: DRIO) DermTech Inc (NASDAQ: DMTK) Eli Lilly And Co (NYSE: LLY) (reacted to positive data for its monoclonal antibody cocktail in treating COVID-19) ENDRA Life Sciences Inc (NASDAQ: NDRA) ESSA Pharma Inc (NASDAQ: EPIX) Evelo Biosciences Inc (NASDAQ: EVLO) Evogene Ltd (NASDAQ: EVGN) GW Pharmaceuticals PLC- ADR (NASDAQ: GWPH) Illumina, Inc. (NASDAQ: ILMN) ImmuCell Corporation (NASDAQ: ICCC) Immunome Inc (NASDAQ: IMNM) Inari Medical Inc (NASDAQ: NARI) Insmed Incorporated (NASDAQ: INSM) Ionis Pharmaceuticals Inc (NASDAQ: IONS) Johnson & Johnson (NYSE: JNJ) (reacted to better-than-expected fourth-quarter results and positive guidance) Kintara Therapeutics Inc (NASDAQ: KTRA) Krystal Biotech Inc(NASDAQ: KRYS) LeMaitre Vascular Inc (NASDAQ: LMAT) Merit Medical Systems, Inc. (NASDAQ: MMSI) Merus NV (NASDAQ: MRUS) NeoGenomics, Inc. (NASDAQ: NEO) Omnicell, Inc. (NASDAQ: OMCL) Oramed Pharmaceuticals, Inc. (NASDAQ: ORMP) Regulus Therapeutics Inc (NASDAQ: RGLS) Rhythm Pharmaceuticals Inc(NASDAQ: RYTM) (announced positive Phase 2 BASKET study data evaluating setmelanotide in additional MC4R pathway deficiency-related obesities) Sesen Bio Inc (NASDAQ: SESN) SI-Bone Inc (NASDAQ: SIBN) Silence Therapeutics ADR Representing 3 Ord Shs (NASDAQ: SLN) Summit Therapeutics Inc (NASDAQ: SMMT) Supernus Pharmaceuticals Inc (NASDAQ: SUPN) Syneos Health Inc (NASDAQ: SYNH) T2 Biosystems Inc (NASDAQ: TTOO) Vericel Corp (NASDAQ: VCEL) Vir Biotechnology Inc (NASDAQ: VIR) ( reacted to positive topline results from the Phase 1 study of VIR-3434 in hepatitis B viral infection) Down In The Dumps (Biotech Stocks Hitting 52-week Lows Jan. 26) Pharming Group (NASDAQ: PHAR) Stocks In Focus Immutep's Lead Compound Found Safe In Mid-stage Study In Hospitalized COVID-19 Patients Immutep (NASDAQ: IMMP) said its lead investigational asset eftilagimod alpha has been given the clearance to advance into the randomized portion of a Phase 2 study that is evaluating it in hospitalized patients with COVID-19. This followed a safety run-in data review of the first six patients enrolled in the study by an independent Data and Safety Monitoring Board. Immutep said up to 110 COVID-19 patients will participate in investigator-initiated study at the University Hospital Pilsen, Czech Republic. The stock was up 8.89% to $3.43 in after-hours trading. Agios Reports Positive Phase 3 Data For Mitapivat In Treating Genetic Blood Disorder Agios Pharmaceuticals Inc (NASDAQ: AGIO) said that the global, open-label Phase 3 ACTIVATE-T trial of mitapivat in regularly transfused adults with pyruvate kinase deficiency demonstrated a statistically significant and clinically meaningful reduction in transfusion burden. Pyruvate kinase deficiency leads to break down of RBCs more easily, leading to anemia. In the 24-week fixed dose period, 37% achieved a 33% or more reduction in transfusion burden compared to individual historical transfusion burden standardized to 24 weeks, and 22% were transfusion-free. In after-hours trading, the stock added 10.41% to $53.04. Sorrento Says Stem Cell Therapy Candidate Found Effective In Phase 1 Study In Severe COVID-19 Patients Sorrento Therapeutics Inc (NASDAQ: SRNE) announced positive preliminary results from its Phase 1b study of human allogeneic adipose-derived mesenchymal stem cells, dubbed COVI-MSC, for patients suffering from COVID-19-induced acute respiratory distress or acute respiratory distress syndrome. This ongoing study is a single arm, non-randomized Phase 1b study of the safety and preliminary efficacy of COVI-MSCs administered every other day for three infusions for a total of 1 x 106 cells/kg. Each of the first three patients was discharged from the hospital within a week of starting the patient's COVI-MSC infusions and two patients were discharged on the day of their last infusion, the company said. The stock rallied 9.21% to $11.38 in after-hours trading. Lilly, Vir, GSK to Study Antibody Combos For Mild-to-Moderate COVID-19 Eli Lilly And Co (NYSE: LLY), GlaxoSmithKline plc (NYSE: GSK) and Vir Biotechnology Inc (NASDAQ: VIR) announced a collaboration to evaluate a combination of two COVID-19 therapies in low-risk patients with mild to moderate COVID-19. Lilly said it has expanded its ongoing BLAZE-4 trial to evaluate the administration of bamlanivimab, 700mg with VIR-7831, also known as GSK4182136, 500mg, two neutralizing antibodies that bind to different epitopes of the SARS-CoV-2 spike protein. Sanofi to Support COVID-19 Vaccine Manufacturing Efforts of Pfizer/BioNTech Sanofi SA (NASDAQ: SNY) announced an agreement with BioNTech SE – ADR (NASDAQ: BNTX) under which Sanofi will support manufacturing and supply of BioNTech's COVID-19 vaccine which is being co-developed with Pfizer Inc. (NYSE: PFE). View more earnings on IBB Sanofi said it will provide BioNTech access to its established infrastructure and expertise to produce over 125 million doses of COVID-19 vaccine in Europe. Initial supplies will originate from Sanofi's production facilities in Frankfurt from summer of 2021. Regeneron Antibody Cocktail Found Effective Against New Coronavirus Mutations Regeneron Pharmaceuticals Inc (NASDAQ: REGN) said researchers in Dr. David Ho's Columbia University lab and Regeneron scientists have independently confirmed that REGEN-COV, its antibody cocktail, successfully neutralizes the circulating SARS-CoV-2 variants first identified in the UK (B.1.1.7) and South Africa (B.1.351). T2 Biosystems Preannounces Q4, FY20 Revenue Shortfall T2 Biosystems preannounced fourth-quarter revenues of $7.8 million, including product revenues of $5.8 million. This represented a 155% increase in total revenues and 274% increase in product revenues. Revenues for the year are expected at $18.1 million. Analysts, on average, estimate revenues of $8.74 million for the quarter and $19.04 million for the year. The stock tumbled 15.30% to $2.38 in after-hours trading. Offerings Catalyst Pharmaceuticals Inc (NASDAQ: CPRX) said it is offering shares of its common stock in an underwritten public offering. All of the shares in the offering are being offered by Catalyst. Transenterix Inc (NYSE: TRXC) said it has entered into an underwriting agreement with H.C. Wainwright & Co, under which the underwriter has agreed to purchase on a firm commitment basis 8.33 million shares of common stock of the company at a public offering price of $3 per share, for raising gross proceeds of $25 million. The offering is expected to close on or about Jan. 29, subject to customary closing conditions. In after-hours trading, the stock lost 5.82% to $3.40. Scopus Biopharma Inc (NASDAQ: SCPS) announced the pricing of a $9 million follow-on public offering, consisting of one million shares of common stock at a public offering price of $9 per share. Scopus said it intends to use the proceeds of the offering principally for further development of the company's lead drug candidate, including in combination with checkpoint inhibitors. The stock ended down 1.04% to $10.50 in after-hours trading. On The Radar Clinical Readouts: Zymeworks Inc (NYSE: ZYME) is due to present a clinical progress update for ZW49, which is being evaluated in a Phase 1 clinical trial as a treatment for patients with locally advanced or metastatic HER2-expressing cancers. The presentation is scheduled at 4:30 pm. Earnings Abbott Laboratories (NYSE: ABT) (before the market open) Edwards Lifesciences Corp (NYSE: EW)(after the close) Hologic, Inc. (NASDAQ: HOLX) (after the close) Taro Pharmaceutical Industries Ltd. (NYSE: TARO) (after the close) Related Link: Attention Biotech Investors: Mark Your Calendar For January PDUFA Dates See more from BenzingaClick here for options trades from BenzingaThe Daily Biotech Pulse: Novartis Misses, J&J Beats In Big Pharma Earnings, Vaccine Developer CureVac Taps Equity MarketThe Week Ahead In Biotech (Jan 24-30): J&J, Lilly to Kickstart Big Pharma Earnings, Amgen FDA Decision and More© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Lilly, Vir Biotechnology and GSK announce first patient dosed in expanded BLAZE-4 trial evaluating bamlanivimab (LY-CoV555) with VIR-7831 (GSK4182136) for COVID-19
Wed, 27 Jan 2021 11:45:00 +0000
Eli Lilly and Company (NYSE: LLY), Vir Biotechnology, Inc. (NASDAQ: VIR) and GlaxoSmithKline plc (LSE/NYSE: GSK) today announced a collaboration to evaluate a combination of two COVID-19 therapies in low-risk patients with mild to moderate COVID-19. Lilly has expanded its ongoing BLAZE-4 trial to evaluate the administration of bamlanivimab (LY-CoV555) 700mg with VIR-7831 (also known as GSK4182136) 500mg, two neutralizing antibodies that bind to different epitopes of the SARS-CoV-2 spike protein. This unique collaboration marks the first time that monoclonal antibodies from separate companies will be brought together to explore potential outcomes.

Eli Lilly’s Antibody Therapy Cuts Covid-19 Hospitalization By 70%
Wed, 27 Jan 2021 11:13:20 +0000
Eli Lilly & Co. said new data showed that treatment with two of its antibody therapies lowered COVID-19-related hospitalizations and deaths in high-risk patients by 70%. Specifically, Lilly (LLY) said that the results of the Phase 3 trial testing the treatment of bamlanivimab (LY-CoV555) and etesevimab (LY-CoV016) together met the primary endpoint. Among the 1,035 patients, there were 11 events, or 2.1% in patients treated with the therapy and 36 events, or 7% in patients taking placebo, representing a 70% risk reduction. There were 10 deaths among patients taking placebo, and no deaths in patients taking bamlanivimab and etesevimab together. “Bamlanivimab and etesevimab together also demonstrated statistically significant improvements on all key secondary endpoints, providing strong evidence that the therapy reduced viral load and accelerated symptom resolution,” the drugmaker said. Bamlanivimab is a potent, neutralizing IgG1 monoclonal antibody (mAb) directed against the spike protein of SARS-CoV-2. It is designed to block viral attachment and entry into human cells, thus neutralizing the virus, potentially preventing and treating COVID-19. “These exciting results, which replicate positive Phase 2 data in a much larger set of patients, add valuable clinical evidence about the role neutralizing antibodies can play in fighting this pandemic. While the preliminary nature of Phase 2 results from COVID-19 neutralizing monoclonal antibodies may have limited acceptance of treatment, these Phase 3 data further strengthen the available evidence,” said Lilly's chief scientific officer Daniel Skovronsky. “These data further support our belief that bamlanivimab and etesevimab together have the potential to be an important treatment that significantly reduces hospitalizations and death in high-risk COVID-19 patients.” “Bamlanivimab alone is authorized for emergency use as a treatment for high-risk patients with mild to moderate COVID-19 in the US. and widely available for use,” Skovronsky added. (See Eli Lilly’s stock analysis on TipRanks). Mizuho analyst Vamil Divan believes that the released data “should support FDA Emergency Use Authorization for the combo and further boost Lilly's sales and earnings for 2021 (and potentially 2022).” However, Divan, who has a $222 price target on the stock with a Buy rating, added that it is “not likely a driver of the long-term investment thesis on the stock.” “We expect the combination to play an important role in treating patients over the next several months/quarters until the COVID-19 vaccines are more broadly administered and the pandemic starts to be brought under control,” the analyst wrote in a note to investors. “We continue to recommend Lilly shares on the back of a well-diversified product story that is poised to deliver above market topline and bottom-line growth over the next decade, with further upside possible in the coming weeks as the full Phase 2 donanemab data are presented on March 13.” Shares of LLY, which have advanced 28% over the past month, are up 53% over the past year. Meanwhile, Wall Street analysts have a cautiously optimistic Moderate Buy consensus on the stock. That’s with an average analyst price target of $194.90, indicating 8.4% downside potential lies ahead over the coming year. Meanwhile on TipRanks' Smart Score system, LLY scores a 9 out of 10, implying that the stock has strong potential to outperform market expectations. Related News: Pfizer-BioNTech’s Covid-19 Vaccine Approved By Australia’s Regulator Aclaris Explodes 220% On ‘Positive Data’ From Rheumatoid Arthritis Trial Wabtec Secures Order From Singapore Mass Transit More recent articles from Smarter Analyst: GE Tops 4Q Cash Flow Guidance As Sales Outperform; Shares Gain F5 Networks Sinks 7.5% As 2Q Sales Outlook Disappoints Beyond Meat, PepsiCo Form Plant-Based Snack Venture; Shares Pop 18% AMD's Sales Outlook Tops Estimates As 4Q Profit Jumps 63%

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