Eli Lilly and Price Target Cut to $61.00 by Analysts at Jefferies Group (LLY)
Stock analysts at Jefferies Group cut their price objective on shares of Eli Lilly and (NYSE:LLY) from $65.00 to $61.00 in a report issued on Monday. Jefferies Group’s price objective indicates a potential upside of 0.03% from the company’s current price.
A number of other analysts have also recently weighed in on LLY. Analysts at S&P Equity Research initiated coverage on shares of Eli Lilly and in a research note on Friday, August 1st. They set a “buy” rating on the stock. Separately, analysts at Morgan Stanley raised their price target on shares of Eli Lilly and from $48.00 to $60.00 in a research note on Friday, August 1st. Finally, analysts at Tigress Financial initiated coverage on shares of Eli Lilly and in a research note on Friday, August 1st. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $63.86.
Shares of Eli Lilly and (NYSE:LLY) traded up 1.13% on Monday, hitting $61.6701. 1,211,250 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 $62.44 and a 200-day moving average of $59.1. The company has a market cap of $66.092 billion and a price-to-earnings ratio of 19.36. Eli Lilly and also saw unusually large options trading on Friday. Investors bought 1,703 put options on the stock. This represents an increase of 108% compared to the average daily volume of 819 put options.
Eli Lilly and (NYSE:LLY) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.68 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.16 earnings per share. Eli Lilly and’s revenue was down 16.8% compared to the same quarter last year. On average, analysts predict that Eli Lilly and will post $2.78 earnings per share for the current fiscal year.
In other Eli Lilly and news, major shareholder Lilly Endowment Inc sold 250,000 shares of Eli Lilly and stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $63.03, for a total transaction of $15,757,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Eli Lilly and Company, discovers, develops, manufactures, and sells products, in one business segment, pharmaceutical products.
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