- MKM Partners is raising its price target on Eli Lilly (LLY -1%) to $59 from $54 following its announcement that Phase III SQUIRE studies with necitumumab, a treatment for squamous non-small cell lung cancer, met its primary endpoint of overall survival.
- The firm is adding necitumumab to its model with a 2015 launch and 2017 estimated worldwide sales of $525M.
- Yesterday, ISI analyst Mark Schoenebaum said expectations for necitumumab in squamous lung cancer may top $1.5B per year.
MKM ups its price target on Eli Lilly on Necitumumab
Aug 14 2013, 10:47 ET