Eli Lilly and Company (NYSE:LLY) Shares Up 2.3% – Here’s What Happened

Eli Lilly and Company (NYSE:LLY) shares rose 2.3% on Tuesday . The company traded as high as $920.28 and last traded at $918.90. 633,356 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 3,018,146 shares. The stock had previously closed at $898.40.

Analysts Set New Price Targets

LLY has been the topic of a number of research reports. Wells Fargo & Company raised their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Bank of America upped their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday, September 16th. Berenberg Bank increased their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $979.29.

Eli Lilly and Company Trading Up 0.5 %

The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The firm has a market capitalization of $878.17 billion, a PE ratio of 136.08, a P/E/G ratio of 2.78 and a beta of 0.42. The stock’s 50-day simple moving average is $906.72 and its 200-day simple moving average is $850.80.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The company had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. As a group, sell-side analysts expect that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Institutional Trading of Eli Lilly and Company

Hedge funds have recently modified their holdings of the business. Capital Planning LLC bought a new position in shares of Eli Lilly and Company during the first quarter valued at approximately $262,000. CHURCHILL MANAGEMENT Corp purchased a new position in Eli Lilly and Company during the first quarter valued at $6,916,000. M&G Plc bought a new stake in Eli Lilly and Company in the first quarter worth $8,896,000. HighPoint Advisor Group LLC purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth $9,878,000. Finally, Leo Wealth LLC bought a new position in shares of Eli Lilly and Company during the fourth quarter valued at $3,355,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.