Eli Lilly reported strong earnings and raised guidance. Read more on what could be next for this biotech giant.

Lilly now says it expects non-GAAP earnings from $23 to $23.70 a share this year, up from $21.75 to $23. The new guidance is well above the current analyst consensus estimate of $22.48, and suggests Wall Street’s fourth quarter expectations may be too low.

Eli Lilly shares rise as Q3 revenue jumps 54% to $17.6 billion, earnings top estimates, and analysts lift price targets on strong obesity drug momentum.

The Big Pharma mainstay blew away EPS and revenue expectations when it reported Q3 financials, with management raising full-year guidance.

With a market cap of around $730 billion, Eli Lilly (NYSE: LLY) is one of the largest pharmaceutical companies on planet Earth. It has a strong position in the emerging niche of weight loss drugs, with patent protections that extend into the mid-2030s. And there's a solid pipeline of drugs coming up, too.

Shares of Eli Lilly and Novo Nordisk move lower in Thursday's after-hours session after President Trump indicated weight-loss drugs are going to go down in price.

October 30th is the day when Eli Lilly will report its third-quarter results, including sales of its 'superstars' Zepbound and Mounjaro. Since my article was published on September 8, Eli Lilly's stock price has risen by 13.1%.

Eli Lilly (NYSE: LLY) has been on a tear for the better part of the last decade, but the company has experienced a bit of a slowdown of late. The stock is down 8% over the trailing-12-month period, partly because of a clinical setback, although general market volatility and the threat of tariffs probably didn't help.