Share on StockTwits

Investment analysts at Morgan Stanley boosted their target price on shares of Eli Lilly and (NYSE:LLY) from $48.00 to $60.00 in a note issued to investors on Friday. Morgan Stanley’s price objective would suggest a potential downside of 1.12% from the stock’s previous close.

In other Eli Lilly and news, major shareholder Lilly Endowment Inc sold 250,000 shares of the company’s stock on the open market in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $63.03, for a total transaction of $15,757,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Eli Lilly and (NYSE:LLY) traded down 0.62% during mid-day trading on Friday, hitting $60.68. 6,884,679 shares of the company’s stock traded hands. Eli Lilly and has a one year low of $47.53 and a one year high of $65.70. The stock has a 50-day moving average of $62.28 and a 200-day moving average of $58.97. The company has a market cap of $65.031 billion and a P/E ratio of 19.39. Eli Lilly and also was the recipient of a large drop in short interest in July. As of July 15th, there was short interest totalling 19,160,146 shares, a drop of 11.4% from the June 30th total of 21,636,995 shares. Based on an average daily volume of 3,091,827 shares, the short-interest ratio is currently 6.2 days. Approximately 1.9% of the shares of the stock are short sold.

Eli Lilly and (NYSE:LLY) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.03. The company had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.88 billion. During the same quarter in the previous year, the company posted $1.16 earnings per share. The company’s revenue for the quarter was down 16.8% on a year-over-year basis. On average, analysts predict that Eli Lilly and will post $2.78 earnings per share for the current fiscal year.

A number of other firms have also recently commented on LLY. Analysts at Tigress Financial initiated coverage on shares of Eli Lilly and in a research note on Friday. They set a “buy” rating on the stock. Separately, analysts at Citigroup Inc. downgraded shares of Eli Lilly and from a “buy” rating to a “neutral” rating in a research note on Thursday. They now have a $68.00 price target on the stock, up previously from $60.00. Finally, analysts at Argus raised their price target on shares of Eli Lilly and from $64.00 to $72.00 in a research note on Tuesday. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $64.14.

Eli Lilly and Company discovers, develops, manufactures, and sells products, in one business segment, pharmaceutical products.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.