Key Takeaways Eli Lilly shares could remain under the microscope on Wednesday after falling sharply Tuesday as the pharmaceutical giant lowered its 2024 full-year revenue forecast.This tepid outlook adds to concerns about moderating demand for its flagship weigh-loss drugs.

There is some expectation that Eli Lilly's pipeline will break through, and analysts are particularly optimistic about diabetes and oncology treatments. Factors including these recent strong earnings, combined with a consensus Moderate Buy rating and a target price average of $1,002.22, constitute MarketBeat data.