Elan Price Target Cut to $16.00 (ELN)
Investment analysts at Jefferies Group reduced their price objective on shares of Elan (NYSE:ELN) from $16.50 to $16.00 in a note issued to investors on Friday, Analyst Ratings Network.com reports. The firm currently has a “hold” rating on the stock. Jefferies Group’s price objective points to a potential downside of 0.74% from the stock’s previous close.
Shares of Elan (NYSE:ELN) traded up 0.81% during mid-day trading on Friday, hitting $16.12. 5,307,476 shares of the company’s stock traded hands. Elan has a 52 week low of $9.37 and a 52 week high of $15.92. The stock’s 50-day moving average is $15.36 and its 200-day moving average is $13.24. The company has a market cap of $8.247 billion and a price-to-earnings ratio of 4.07.
Elan (NYSE:ELN) last issued its quarterly earnings data on Thursday, October 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by $0.05. The company had revenue of $48.60 million for the quarter, compared to the consensus estimate of $56.53 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share. The company’s revenue for the quarter was down 84.1% on a year-over-year basis. On average, analysts predict that Elan will post $4.44 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks downgraded shares of Elan from a “neutral” rating to an “underperform” rating in a research note to investors on Friday. They now have a $15.20 price target on the stock. Separately, analysts at Berenberg Bank downgraded shares of Elan from a “buy” rating to a “hold” rating in a research note to investors on Thursday, August 29th. They now have a $15.20 price target on the stock, up previously from $14.00. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. Elan has an average rating of “Hold” and a consensus price target of $13.89.
Elan Corporation, plc (NYSE:ELN) is a neuroscience-based biotechnology company.
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