Tigress Financial Initiates Coverage on Eli Lilly and (LLY)
Research analysts at Tigress Financial assumed coverage on shares of Eli Lilly and (NYSE:LLY) in a report released on Friday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
Several other analysts have also recently commented on the stock. 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. Separately, 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. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Eli Lilly and in a research note on Friday, July 25th. They now have a $68.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $64.14.
In other Eli Lilly and news, major shareholder Lilly Endowment Inc sold 250,000 shares of Eli Lilly and stock on the open market in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $63.03, for a total value of $15,757,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Shares of Eli Lilly and (NYSE:LLY) opened at 60.68 on Friday. Eli Lilly and has a one year low of $47.53 and a one year high of $65.70. The stock’s 50-day moving average is $62.28 and its 200-day moving average is $58.97. The company has a market cap of $65.031 billion and a price-to-earnings ratio of 19.39. Eli Lilly and also was the target of a large decline in short interest in July. As of July 15th, there was short interest totalling 19,160,146 shares, a decline of 11.4% from the June 30th total of 21,636,995 shares. Currently, 1.9% of the company’s stock are short sold. Based on an average trading volume of 3,091,827 shares, the days-to-cover ratio is currently 6.2 days.
Eli Lilly and (NYSE:LLY) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $1.16 earnings per share. The company’s quarterly revenue was down 16.8% on a year-over-year basis. Analysts expect that Eli Lilly and will post $2.78 EPS 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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