Key HighlightsEli Lilly shares began trading at $1,208.37, marking a 14.4% gain year to date and outpacing the S&P 500GLP-1 therapies Mounjaro and Zepbound represented approximately 65% of first-quarter 2026 revenueThe pharmaceutical giant introduced Foundayo, its oral GLP-1 treatment, with projections showing GLP-1 drugs will surpass 65% revenue share in Q2First-quarter earnings per share reached $8.55, exceeding analyst forecasts of $6.97, while revenue hit $19.80 billion — a 55.5% year-over-year jumpThe company deployed over $20 billion across acquisitions and strategic partnerships throughout 2026 to expand beyond its GLP-1 portfolioEli Lilly (LLY) shares opened Friday’s session at $1,208.37, hovering close to the 52-week peak of $1,238.00. The pharmaceutical giant’s stock has climbed 14.4% since January, outperforming the pharma sector’s 11.6% advance and the broader S&P 500 index.Eli Lilly and Company, LLYThe Indianapolis-based drugmaker delivered first-quarter 2026 earnings of $8.55 per share, significantly surpassing Wall Street’s consensus forecast of $6.97. Total revenue reached $19.80 billion, beating projections of $17.82 billion and representing a 55.5% increase compared to the prior-year quarter.The company’s dual GLP-1 blockbusters, Mounjaro and Zepbound, powered the majority of revenue expansion. These two medications alone contributed roughly 65% of all first-quarter sales. Following the U.S. market introduction of Foundayo — Lilly’s oral formulation for obesity treatment — analysts anticipate GLP-1 products will account for more than 65% of second-quarter revenue.Foundayo’s arrival reignites direct market rivalry with Novo Nordisk (NVO), which introduced an oral Wegovy formulation in January 2026, securing a temporary first-mover advantage.Strategic Expansion Beyond Weight-Loss TherapeuticsLilly has accelerated efforts to broaden its product portfolio outside the obesity and diabetes segment. The pharmaceutical company is developing multiple therapeutic franchises designed to reduce dependence on GLP-1 revenue streams.The diversification pipeline includes Omvoh for inflammatory bowel conditions, Jaypirca addressing specific blood malignancies, Ebglyss approved for atopic dermatitis treatment, Kisunla targeting early-stage Alzheimer’s disease, and Inluriyo recently launched for metastatic breast cancer.Jaypirca has emerged as a standout performer. The FDA broadened its indication in late 2025 to include patients with relapsed or refractory CLL/SLL. Subsequently, Europe’s CHMP issued a positive recommendation for expanded approval covering all CLL treatment lines, with final European Commission authorization expected soon.Lilly awaits a comparable FDA label expansion ruling for Jaypirca scheduled for later this year. Approval would substantially expand the addressable patient population across U.S. markets.Regarding mergers and acquisitions, Lilly allocated more than $20 billion throughout 2026 toward deals encompassing oncology, neuroscience, cardiovascular therapeutics, gene editing platforms, and vaccine development. This represents a substantial commitment to long-range portfolio diversification.Stock Valuation and Wall Street PerspectivesAt present trading levels, LLY shares command a forward earnings multiple of 30.67 — exceeding the pharmaceutical industry average of 18.76 while remaining below the company’s five-year historical mean of 34.56. Market capitalization currently stands at $1.14 trillion.Full-year 2026 EPS projections have trended upward during the past 60 days, climbing from $33.86 to $35.67. Looking ahead to 2027, estimates advanced from $42.56 to $44.61.Institutional investors control 82.53% of outstanding shares. World Investment Advisors expanded its position by 12.1% during the first quarter of 2026, purchasing 2,936 additional shares to reach a total holding of 27,134.Wall Street analysts maintain predominantly bullish outlooks. Goldman Sachs assigns a buy rating with a $1,283 price objective. Jefferies recently elevated its target to $1,350, maintaining a buy recommendation. Morgan Stanley reaffirmed its overweight stance in June.Among 30 analysts monitored by MarketBeat, 23 recommend buying the stock, with a median price target of $1,235.07.The sole dissenting voice: HSBC downgraded shares to reduce in March, establishing an $850 price target.Lilly’s official fiscal year 2026 guidance projects EPS between $35.50 and $37.00, while the current sell-side consensus estimate sits at $35.74.The post Eli Lilly (LLY) Stock Surges Past $1,200 on Blockbuster Earnings and Oral GLP-1 Launch appeared first on Blockonomi.