Lilly's weight-loss medications Mounjaro and Zepbound are gaining market share on Novo's Wegovy and Ozempic, but investors remain unconvinced.

Some would say Eli Lilly just had its Novo Nordisk moment. Analysts mostly agree that the selloff in Lilly shares after the company released disappointing data on its experimental weight-loss pill was overdone. Nonetheless, many analyst trimmed their price targets on shares.

(Reuters) -Shares in Novo Nordisk rose 13.6% on Thursday after trial data from Eli Lilly's experimental weight-loss pill fell short of expectations, boosting investor confidence in the Danish drugmaker's market-leading obesity treatment.