Zacks Reiterates “Neutral” Rating for Eli Lilly and (LLY)
Eli Lilly and (NYSE:LLY)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Friday, Stock Ratings Network.com reports. They currently have a $62.00 price objective on the stock. Zacks‘s price objective indicates a potential upside of 5.42% from the stock’s previous close.
Zacks’ analyst wrote, “Lilly’s first quarter 2014 EPS of $0.70 was in-line with the Zacks Consensus Estimate but 39% below the year-ago EPS. Results were affected by the Dec 2013 entry of generic competition for Cymbalta in the U.S. Revenues slipped 16% to $4.683 billion, missing the Zacks Consensus Estimate of $4.767 billion. Lilly expects to earn $2.72 – $2.80 per share in 2014. The biggest near-term challenge for Lilly will be to replace the revenues lost due to the Zyprexa, Cymbalta and Evista genericization. On the flip side, the Animal Health business and the diabetes franchise should provide some downside support. We are also pleased to see Lilly pursuing small acquisitions and in-licensing deals to boost its pipeline. We remain Neutral on the stock.”
A number of other firms have also recently commented on LLY. Analysts at Jefferies Group raised their price target on shares of Eli Lilly and to $60.00 in a research note on Wednesday. They now have a “hold” rating on the stock. Separately, analysts at Leerink Swann downgraded shares of Eli Lilly and from a “buy” rating to a “neutral” rating in a research note on Wednesday. They now have a $61.00 price target on the stock. Finally, analysts at MKM Partners downgraded shares of Eli Lilly and from a “buy” rating to a “neutral” rating in a research note on Wednesday. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $59.69.
Shares of Eli Lilly and (NYSE:LLY) traded up 0.05% during mid-day trading on Friday, hitting $58.71. 2,221,645 shares of the company’s stock traded hands. Eli Lilly and has a 52-week low of $47.53 and a 52-week high of $61.15. The stock’s 50-day moving average is $58.83 and its 200-day moving average is $53.76. The company has a market cap of $62.632 billion and a price-to-earnings ratio of 13.58.
Eli Lilly and (NYSE:LLY) last released its earnings data on Thursday, April 24th. The company reported $0.70 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.70. The company had revenue of $4.68 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was down 16.4% on a year-over-year basis. On average, analysts predict that Eli Lilly and will post $2.81 earnings per share for the current fiscal year.
Eli Lilly and Company discovers, develops, manufactures, and sells products, in one business segment, pharmaceutical products.
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