Eli Lilly is one step closer to bringing an oral weight loss medicine to the booming obesity drug market. A clinical trial saw people lose 12% of body weight.

Eli Lilly raised its full-year profit and sales forecast on Thursday, betting on surging demand for its blockbuster weight-loss drug, Zepbound, as it targets new markets and looks to grab more share from Novo Nordisk's Wegovy.

Eli Lilly stock beats Q2 estimates with strong sales but faces competitive risks and high valuation. Here's why investors may simply want to hold for now.