Eli Lilly and Company (NYSE:LLY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, October 26th. The firm currently has a $95.00 price target on the stock. Zacks Investment Research‘s target price suggests a potential upside of 14.06% from the stock’s previous close.
According to Zacks, “Lilly’s third-quarter 2017 results were strong with the company beating estimates on both counts. Lilly also raised its sales and earnings outlook for the second time this year mainly backed by strong uptake trends of new products. Lilly is also exploring strategic alternatives for the Animal Health business, a prudent decision in our view. Lilly’s new products like Trulicity, Taltz, Basaglar, Cyramza, Jardiance and Lartruvo have been driving revenues and the trend is expected to continue. Lilly expects to launch 20 new products between 2014 and 2023, including at least two new indications/line extensions on an average every year. However, key drug Alimta will continue to be impacted by competition. Meanwhile, the recent high-profile pipeline setbacks, competition from immuno-oncology agents, loss of exclusivity for many drugs, and weak performance of the Animal Health segment this year are an investor concern.”
Several other research analysts have also commented on LLY. Barclays PLC boosted their price target on Eli Lilly and from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 4th. Citigroup Inc. restated a “buy” rating and set a $100.00 target price on shares of Eli Lilly and in a research note on Tuesday, July 4th. Jefferies Group LLC restated a “buy” rating and set a $96.00 target price (up from $93.00) on shares of Eli Lilly and in a research note on Thursday, July 13th. Deutsche Bank AG restated a “buy” rating and set a $91.00 target price (up from $90.00) on shares of Eli Lilly and in a research note on Monday, July 17th. Finally, Leerink Swann downgraded Eli Lilly and from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $93.00 to $90.00 in a research note on Wednesday, July 26th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $89.76.
Eli Lilly and (NYSE:LLY) opened at $83.29 on Thursday. The firm has a market capitalization of $91,710.21, a P/E ratio of 20.36, a price-to-earnings-growth ratio of 1.83 and a beta of 0.34. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.03 and a current ratio of 1.38. Eli Lilly and has a 1-year low of $64.18 and a 1-year high of $89.09.
Eli Lilly and (NYSE:LLY) last issued its earnings results on Tuesday, October 24th. The company reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.02. The business had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.52 billion. Eli Lilly and had a return on equity of 30.27% and a net margin of 9.90%. Eli Lilly and’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 EPS. equities research analysts expect that Eli Lilly and will post 4.22 earnings per share for the current fiscal year.
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In other news, major shareholder Lilly Endowment Inc sold 205,000 shares of the firm’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $86.81, for a total transaction of $17,796,050.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 770,000 shares of company stock valued at $64,669,850. Company insiders own 0.20% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Zeke Capital Advisors LLC raised its stake in shares of Eli Lilly and by 158.8% in the third quarter. Zeke Capital Advisors LLC now owns 23,846 shares of the company’s stock valued at $2,040,000 after acquiring an additional 14,632 shares in the last quarter. Amalgamated Bank raised its stake in Eli Lilly and by 2.2% in the third quarter. Amalgamated Bank now owns 117,716 shares of the company’s stock valued at $10,069,000 after buying an additional 2,586 shares in the last quarter. Twin Capital Management Inc. raised its stake in Eli Lilly and by 83.7% in the third quarter. Twin Capital Management Inc. now owns 90,330 shares of the company’s stock valued at $7,727,000 after buying an additional 41,150 shares in the last quarter. LVW Advisors LLC acquired a new stake in Eli Lilly and in the third quarter valued at $909,000. Finally, Hartland & Co. LLC raised its stake in Eli Lilly and by 33.4% in the third quarter. Hartland & Co. LLC now owns 14,388 shares of the company’s stock valued at $1,231,000 after buying an additional 3,601 shares in the last quarter. Institutional investors and hedge funds own 75.48% of the company’s stock.
About Eli Lilly and
Eli Lilly and Company is engaged in drug manufacturing business. The Company discovers, develops, manufactures and markets products in two segments: human pharmaceutical products and animal health products. The Company’s human pharmaceutical business segment sells medicines, which are discovered or developed by its scientists.
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