Eli Lilly and Company (NYSE:LLY) Price Target Raised to $900.00

Eli Lilly and Company (NYSE:LLY) had its price objective upped by JPMorgan Chase & Co. from $850.00 to $900.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts also recently issued reports on LLY. TheStreet raised shares of Eli Lilly and Company from a c+ rating to a b rating in a report on Friday, March 8th. The Goldman Sachs Group boosted their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a neutral rating in a research report on Thursday, April 11th. BMO Capital Markets lifted their target price on shares of Eli Lilly and Company from $710.00 to $865.00 and gave the stock an outperform rating in a research note on Wednesday, February 7th. Cantor Fitzgerald reissued an overweight rating and set a $885.00 price target (up previously from $815.00) on shares of Eli Lilly and Company in a research note on Tuesday. Finally, Erste Group Bank raised Eli Lilly and Company from a hold rating to a buy rating in a research report on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $757.95.

Eli Lilly and Company Stock Performance

LLY opened at $734.97 on Wednesday. Eli Lilly and Company has a 1-year low of $419.80 and a 1-year high of $800.78. The stock has a market cap of $698.52 billion, a P/E ratio of 108.24, a P/E/G ratio of 1.50 and a beta of 0.37. The stock’s 50 day simple moving average is $761.75 and its 200 day simple moving average is $670.56. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 0.73.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Tuesday, April 30th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. During the same quarter in the prior year, the company earned $1.62 earnings per share. Eli Lilly and Company’s revenue was up 26.0% compared to the same quarter last year. As a group, equities analysts anticipate that Eli Lilly and Company will post 13.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Eli Lilly and Company

Several institutional investors and hedge funds have recently bought and sold shares of the business. Lipe & Dalton bought a new position in Eli Lilly and Company during the 4th quarter worth $26,000. Thompson Investment Management Inc. acquired a new position in Eli Lilly and Company during the 3rd quarter valued at about $27,000. Tidemark LLC bought a new position in Eli Lilly and Company in the 4th quarter worth about $29,000. Core Wealth Advisors Inc. increased its stake in shares of Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after purchasing an additional 32 shares during the period. Finally, Legacy Financial Group LLC bought a new stake in shares of Eli Lilly and Company during the third quarter valued at approximately $35,000. Institutional investors and hedge funds 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.