Eli Lilly and Company (LLY) Price Target Raised to $93.00
Eli Lilly and Company (NYSE:LLY) had its target price lifted by investment analysts at Leerink Swann from $92.00 to $93.00 in a research report issued to clients and investors on Monday. The firm currently has a “market perform” rating on the stock. Leerink Swann’s price objective would suggest a potential upside of 6.61% from the stock’s current price.
A number of other equities analysts have also recently commented on the stock. Credit Suisse Group cut shares of Eli Lilly and from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $84.23 to $88.00 in a research report on Tuesday, October 10th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $103.00 price objective on shares of Eli Lilly and in a research report on Thursday, August 31st. Zacks Investment Research raised shares of Eli Lilly and from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Monday, July 17th. Jefferies Group LLC reaffirmed a “buy” rating and set a $89.00 price objective (down from $94.00) on shares of Eli Lilly and in a research report on Thursday, August 24th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $95.00 price objective on shares of Eli Lilly and in a research report on Wednesday, October 4th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. Eli Lilly and presently has an average rating of “Hold” and a consensus price target of $89.12.
Eli Lilly and (NYSE LLY) traded up 0.464% during trading on Monday, reaching $87.635. 3,318,502 shares of the company traded hands. Eli Lilly and has a 12 month low of $64.18 and a 12 month high of $89.09. The company’s 50-day moving average is $84.38 and its 200 day moving average is $82.29. The company has a market cap of $92.45 billion, a PE ratio of 37.921 and a beta of 0.34.
Eli Lilly and (NYSE:LLY) last released its earnings results on Tuesday, July 25th. The company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.06. Eli Lilly and had a net margin of 11.12% and a return on equity of 28.71%. The business had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.60 billion. During the same period last year, the business earned $0.86 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. On average, analysts anticipate that Eli Lilly and will post $4.16 earnings per share for the current year.
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In related news, major shareholder Lilly Endowment Inc sold 205,000 shares of the business’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $86.81, for a total value of $17,796,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 990,000 shares of company stock valued at $82,949,650. 0.20% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of LLY. Acrospire Investment Management LLC raised its stake in Eli Lilly and by 16.7% in the second quarter. Acrospire Investment Management LLC now owns 1,399 shares of the company’s stock valued at $115,000 after purchasing an additional 200 shares in the last quarter. MPS Loria Financial Planners LLC acquired a new position in Eli Lilly and in the second quarter valued at about $128,000. San Francisco Sentry Investment Group CA acquired a new position in Eli Lilly and in the second quarter valued at about $129,000. Heritage Trust Co acquired a new position in Eli Lilly and in the first quarter valued at about $135,000. Finally, Point72 Asia Hong Kong Ltd raised its stake in Eli Lilly and by 237.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,761 shares of the company’s stock valued at $148,000 after purchasing an additional 1,239 shares in the last quarter. 75.53% of the stock is owned by institutional investors and hedge funds.
Eli Lilly and Company Profile
Eli Lilly and Company is engaged in drug manufacturing business. The Company discovers, develops, manufactures and markets products in two segments: human pharmaceutical products and animal health products. The Company’s human pharmaceutical business segment sells medicines, which are discovered or developed by its scientists.
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