LLY Stock Hits New Record, Eli Lilly Valuation Pushes Past Berkshire Hathaway Ahead Of Q3 Earnings

• Goldman Sachs raised its price target on Eli Lilly to $1,413 from $1,371 and maintained a ‘Buy’ rating.
• According to Koyfin data, 26 of the 31 analysts covering Eli Lilly rate the stock ‘Buy’ or ‘Strong Buy’.
• Lilly is scheduled to report third quarter results on October 29, with Fiscal.AI estimates pointing to $22.49 billion in revenue and EPS of $7.11.

Eli Lilly and Company (LLY) shares climbed to a record high in midday trade on Tuesday, pushing its market capitalization above Berkshire Hathaway’s (BRK.B) after Goldman Sachs raised its price target ahead of the drugmaker’s third-quarter earnings report.

The company’s valuation rose to approximately $1.17 trillion, climbing over Berkshire’s $1.14 trillion. LLY shares were 4.6% higher at the time of writing, paring gains after hitting a record high of over $1,311.

The move followed Goldman Sachs raising its price target on Eli Lilly to $1,413 from $1,371, as per a note to investors cited by TheFly. The firm maintained a ‘Buy’ rating on the shares. The new price target implies a further upside of 7% from the stock’s record high.

Eli Lilly is scheduled to report its third-quarter (Q3) 2026 results on October 29, with analysts expecting revenue of $22.49 billion and earnings per share (EPS) of $7.11, according to estimates compiled by Fiscal.AI.

Goldman Expects Q3 Beat And Raise

Goldman Sachs expects Eli Lilly to deliver another third-quarter earnings beat and raise its outlook, citing stronger-than-consensus sales growth for Mounjaro outside the U.S. and volume gains for Zepbound supported by Medicare’s GLP-1 Bridge program, according to the note published by The Fly.

The analyst said expectations for Foundayo remain broadly in line with estimates.

Goldman Sachs’ price target hike comes after Bank of America (BofA) also raised its price target on Lilly, to $1,397 from $1,341, while maintaining a ‘Buy’ rating on Monday. According to The Fly, BofA’s third-quarter physician obesity survey added validation for oral GLP-1 drugs and the Medicare Bridge program as U.S. “category expanders.”

According to Koyfin data, 26 of the 31 analysts covering Eli Lilly rate the stock ‘Buy’ or ‘Strong Buy’.

Lilly Reports Positive Phase 3 Results for Omvoh in Pediatric Ulcerative Colitis

Eli Lilly said Monday that its Omvoh treatment met the primary endpoint in the Phase 3 SHINE-2 study in pediatric patients with moderately to severely active ulcerative colitis. Among patients who responded to induction treatment at Week 12, 50% achieved clinical remission at Week 52. Overall, 81% of patients achieved a clinical response to induction at Week 12.

In key secondary outcomes at Week 52, 71.2% of induction responders achieved symptomatic remission, while 50% achieved corticosteroid-free clinical remission without surgery. The study was single-arm and open-label, with efficacy results based on 52 Week 12 responders aged 6 to 17 and safety results covering all 63 enrolled patients.

Omvoh is approved for adults with moderately to severely active ulcerative colitis and Crohn’s disease. Lilly plans to submit the pediatric data to global regulators to support a potential label expansion. Its safety and effectiveness in pediatric patients have not been established.

How Retail Views LLY

On Stocktwits, retail sentiment for LLY remained in the ‘bullish’ territory, amid ‘normal’ message volumes in the past 24 hours.

One bullish Stocktwits user said they expect Eli Lilly shares to move above $1,300 and reach $1,315 during Tuesday’s session.

Another Stocktwits user jokingly called on Eli Lilly to acquire Pfizer.

LLY shares have climbed over 20% year-to-date.

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