Eli Lilly Hits New High As It Tempts Investors With Buy Zone

Eli Lilly stock has gained 10% this month, while FICO scoring stock has hit a high.

Eli Lilly Hits New High As It Tempts Investors With Buy Zone

Eli Lilly (LLY), which hit a high on Friday, is now in the buy zone of 5% and waiting for investors. Fair Isaac (FICO), too, has reached a new high and a buy-point. Both stocks are trading at record highs.

LLY stock rose more than 2%, and reached the 376.41 purchase point for a cup with handle base. According to MarketSmith's pattern recognition, the buy zone extends to 395.23.

Eli Lilly manufactures and develops drugs for neurological, endocrine and cardiovascular diseases, as well as cancer.

Reuters reported on Friday that Lilly expected Medicare to cover their new Alzheimer's medication after strong evidence was presented of its effectiveness in treating brain plaques.

The stock also rose earlier this month after the FDA raised a few concerns about its ulcerative colitis drug, which was already approved. Patrik Patrikson, Lilly's Executive Vice President said: "We are working with the FDA to launch Mirikizumab as soon as we can in the U.S."

Lilly announces Q1 earnings April 27.

New High: FICO Scores A Buy

Fair Isaac rose over 3% on Friday, and reached the 711.95 buying point for a flat basis. FICO is trading in the zone of buys that stretches to 747.55.

Stocks are up over 21% this year. The new high on Friday could be a sign of even greater returns.

In Q4 2022, the data analytics software known for its FICO score system posted modest sales growth of 7% and a 15% increase in EPS. In the last few years, earnings growth has slowed down, but sales growth is still steady at single-digits.

Fair Isaac stock has been added to the Long-Term Leaders Watchlist. The company will also report Q1 results on 27 April.