Cantor Fitzgerald Reiterates Overweight Rating for Eli Lilly and Company (NYSE:LLY)

Eli Lilly and Company (NYSE:LLY)‘s stock had its “overweight” rating restated by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $885.00 price target on the stock, up from their prior price target of $815.00. Cantor Fitzgerald’s price objective points to a potential upside of 13.94% from the company’s current price.

A number of other research firms have also recently commented on LLY. Wells Fargo & Company increased their price target on Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Bank of America lifted their price target on Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. BMO Capital Markets raised their price objective on Eli Lilly and Company from $710.00 to $865.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Finally, Citigroup raised their price objective on Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $757.95.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $776.75 on Tuesday. Eli Lilly and Company has a 52 week low of $399.26 and a 52 week high of $800.78. The company has a quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 1.69. The stock’s fifty day moving average is $762.03 and its two-hundred day moving average is $669.96. The company has a market capitalization of $738.04 billion, a PE ratio of 133.92, a price-to-earnings-growth ratio of 1.61 and a beta of 0.34.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 51.22% and a net margin of 15.36%. The business had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. During the same quarter in the prior year, the company earned $1.62 EPS. The business’s revenue was up 26.0% compared to the same quarter last year. As a group, analysts expect that Eli Lilly and Company will post 12.51 earnings per share for the current year.

Hedge Funds Weigh In On Eli Lilly and Company

A number of institutional investors have recently added to or reduced their stakes in LLY. Lipe & Dalton purchased a new stake in Eli Lilly and Company in the fourth quarter valued at $26,000. Thompson Investment Management Inc. acquired a new position in shares of Eli Lilly and Company during the 3rd quarter worth about $27,000. Tidemark LLC acquired a new position in shares of Eli Lilly and Company during the 4th quarter worth about $29,000. Core Wealth Advisors Inc. boosted its position in shares of Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after acquiring an additional 32 shares in the last quarter. Finally, Legacy Financial Group LLC acquired a new position in shares of Eli Lilly and Company during the 3rd quarter worth about $35,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

About Eli Lilly and Company

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.