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Eli Lilly (LLY) shares closed comfortably in the green on Thursday as strong GLP-1 sales helped the pharmaceutical behemoth report a blockbuster Q1 and raise guidance for the full year.

According to the earnings release, LLY’s combined revenue from Zepbound and Mounjaro more than doubled year-over-year to $12.82 billion in the first quarter.

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Despite its post-earnings rally, Eli Lilly stock remains down about 15% versus its year-to-date high.

Famed investor Jim Cramer dubbed LLY “one of the greatest pharma stories ever” in a segment on CNBC on April 30.

Cramer expects the firm’s recently approved weight-loss pill (Foundayo) to help sustain its explosive growth rate; overall revenue came in up a remarkable 56% in the first quarter.

He sees Foundayo as “superior” to Novo Nordisk’s pill because “there are no restrictions, you just pop it.”

According to CEO David Ricks, about 20 million people globally are currently on Eli Lilly’s GLP-1 treatments, but over time, this number could hit 1 billion.

So, the total addressable market (TAM) is truly massive, and that warrants buying LLY stock today, Cramer concluded.

Options traders are just as bullish on Eli Lilly shares as Jim Cramer, especially after management raised its full-year sales guidance by a whopping $2 billion.

According to Barchart, the put-to-call ratio on contracts expiring mid-July sits at 0.34x currently, signaling a strong bullish skew, with the upper price at $1,046 indicating more than 10% potential upside within the next three months.

Note that LLY has already reclaimed its 20-day moving average (MA), and is now on track to test the 50-day MA. A decisive break above $949 on the back of post-earnings momentum could boost bullish sentiment in the near term.

A 0.74% dividend yield makes Eli Lilly even more attractive for income-focused investors in 2026.

Wall Street analysts also remain bullish as ever on Eli Lilly for the next 12 months.

The consensus rating on LLY shares sits at “Strong Buy” currently, with the mean price target of 1,232 indicating potential upside of more than 30% from current levels.

On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com