NEW YORK (TheStreet) -- Shares of Eli Lilly (LLY) - Get Report are up by 0.3% to $79.95 in mid-morning trading on Tuesday, after the company's joint experimental rheumatoid arthritis drug treatment, developed with Incyte (INCY) - Get Report , was found to be more effective than a current leading treatment.
The treatment Baricitinib showed signs of effectively reducing symptoms of rheumatoid arthritis better than Methotrexate, which has been in use for decades, after 24 weeks.
Study results showed that Baricitinib was well tolerated by patients and showed no difference in safety issues when compared to Methotrexate.
Separately, TheStreet Ratings team rates LILLY (ELI) & CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
We rate LILLY (ELI) & CO (LLY) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. We feel its strengths outweigh the fact that the company has had sub par growth in net income.