NEW YORK, Jan 4, 2026, 10:17 ET — Market closed
- Eli Lilly shares last closed up 0.5% at $1,080.36, within about 3% of their 52-week high. 1
- A Zacks Research upgrade and a heavy early-2026 catalyst calendar are keeping the stock in focus ahead of Monday’s session. 2
- Investors also face key macro tests this week, including the U.S. jobs report due Friday. 3
Eli Lilly and Co shares ended Friday up $5.44, or 0.5%, at $1,080.36, giving the drugmaker a firm start to 2026 as investors positioned for a packed run of healthcare catalysts in January and February.
The move matters because Lilly is one of the market’s largest “growth” stocks — companies whose valuations lean heavily on future earnings — and traders are resetting positions after a year in which weight-loss drugs drove outsized gains across big pharma. 4
It also comes as Washington’s push to widen access to obesity drugs moves from headline deals toward implementation, sharpening investor focus on what higher volumes might mean for net pricing — the amount drugmakers keep after rebates and discounts. 5
On the company side, Zacks Research upgraded Lilly to “strong-buy” in a note issued Thursday, according to MarketBeat. 2
Technically, the stock is trading near the top of its 52-week range of $623.78 to $1,111.99, leaving it sensitive to any shift in expectations around pricing, supply, or new data. 1
Lilly is listed to appear at the 44th Annual J.P. Morgan Healthcare Conference on Jan. 13 at 5:15 p.m. EST, according to its investor events calendar — a closely watched forum where drugmakers often update investors on pipelines and demand trends. 6
The calendar also shows Lilly’s fourth-quarter earnings call on Feb. 4 at 10 a.m. EST, setting up the next major company-specific catalyst after the conference. 7
Policy remains a key swing factor for Lilly’s obesity franchise, which includes Zepbound for weight loss and Mounjaro for diabetes. In late December, the U.S. Centers for Medicare and Medicaid Services outlined a voluntary coverage program for GLP-1 drugs — a class that targets appetite and blood sugar — that would set a $50 monthly out-of-pocket cost for eligible Medicare beneficiaries. 5
The program “aims to increase access to select GLP-1 medications and support for healthy lifestyle choices,” CMS administrator Mehmet Oz said in a post on X. 5
Lilly’s closest peer in obesity drugs is Novo Nordisk, whose Wegovy competes with Zepbound, and the CMS plan explicitly names both products — a reminder that the next phase of growth may hinge as much on reimbursement rules as on demand. 5
But investors face clear risks. The CMS model is voluntary for states, manufacturers and health plans, and broader drug-pricing scrutiny could squeeze margins even if prescriptions rise; meanwhile, high expectations leave little room for stumbles in supply or guidance. 5
Beyond healthcare headlines, traders will also watch Friday’s U.S. Employment Situation report, due at 8:30 a.m. ET, a rates-sensitive macro release that can swing large-cap growth stocks and the broader market. 3
When trading resumes Monday, investors will be watching whether Lilly can hold above the $1,080 area, with attention shifting quickly to the Jan. 9 jobs report, the company’s Jan. 13 conference slot, and the Feb. 4 earnings call for the next set of firm catalysts. 3
