Eli Lilly and Company (NYSE:LLY) Shares Up 4.4% Following Analyst Upgrade

Key Points

• Eli Lilly shares climbed 4.4% after Jefferies raised its price target from $1,610 to $1,700 and reiterated a Buy rating; trading volume was 27% above average.
• Analyst sentiment remains broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $1,416.64, with several brokerages recently increasing their targets.
• Lilly’s latest quarterly results beat expectations, with EPS of $7.48 versus a $5.71 estimate and revenue of $24.40 billion, up 38.6% year over year.

Eli Lilly and Company (NYSE:LLY - Get Free Report) shot up 4.4% during trading on Monday after Jefferies Financial Group raised their price target on the stock from $1,610.00 to $1,700.00. Jefferies Financial Group currently has a buy rating on the stock. Eli Lilly and Company traded as high as $1,419.67 and last traded at $1,413.2220. Approximately 3,760,490 shares were traded during trading, an increase of 27% from the average daily volume of 2,967,246 shares. The stock had previously closed at $1,354.00.

Several other brokerages have also commented on LLY. Royal Bank Of Canada upped their price target on shares of Eli Lilly and Company from $1,500.00 to $1,600.00 and gave the stock an "outperform" rating in a research report on Friday, October 30th. Weiss Ratings lowered shares of Eli Lilly and Company from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, October 30th. Morgan Stanley boosted their price objective on shares of Eli Lilly and Company from $1,430.00 to $1,596.00 and gave the company an "overweight" rating in a research note on Friday, October 30th. The Goldman Sachs Group restated a "buy" rating and set a $1,413.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, October 20th. Finally, Wells Fargo & Company increased their target price on Eli Lilly and Company from $1,330.00 to $1,500.00 and gave the stock an "overweight" rating in a research report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of "Moderate Buy" and an average price target of $1,416.64.

Insider Buying and Selling at Eli Lilly and Company

In related news, EVP Patrik Jonsson sold 6,500 shares of Eli Lilly and Company stock in a transaction on Monday, August 17th. The shares were sold at an average price of $1,175.10, for a total transaction of $7,638,150.00. Following the transaction, the executive vice president owned 54,147 shares in the company, valued at approximately $63,628,139.70. The trade was a 10.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Anat Hakim sold 5,000 shares of the company's stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $1,402.52, for a total transaction of $7,012,600.00. Following the sale, the executive vice president directly owned 4,137 shares of the company's stock, valued at approximately $5,802,225.24. This trade represents a 54.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.14% of the stock is owned by corporate insiders.

More Eli Lilly and Company News

Here are the key news stories impacting Eli Lilly and Company this week:

• Positive Sentiment: In a Phase 3 trial, Foundayo reduced sleep-apnea breathing interruptions by up to an average of 44% after 52 weeks; up to 32% of participants achieved remission or mild disease. Lilly also reported improvements in oxygen-related measures and plans to seek FDA approval for obstructive sleep apnea by year-end 2026. A new indication could broaden the pill’s commercial opportunity beyond weight loss. Reuters article
• Positive Sentiment: Jefferies raised its LLY price target to $1,700 from $1,610, adding to the positive reaction to the trial results. Yahoo Finance article
• Positive Sentiment: Lilly’s agreements with Hims & Hers and LifeMD will offer eligible U.S. adults digital access to branded Zepbound and Foundayo through telehealth and prescription fulfillment, potentially widening the company’s reach. Yahoo Finance article
• Negative Sentiment: The FDA issued a warning about a potential increased risk of a serious eye condition associated with GLP-1 medicines, including weight-loss drugs. The safety alert could weigh on sentiment toward Lilly’s class of treatments, though the provided report does not quantify any effect on use or sales. Reuters article

Institutional Investors Weigh In On Eli Lilly and Company

A number of large investors have recently modified their holdings of LLY. BlackRock Inc. increased its holdings in Eli Lilly and Company by 1.6% during the 2nd quarter. BlackRock Inc. now owns 67,540,400 shares of the company's stock valued at $81,009,981,000 after purchasing an additional 1,046,558 shares in the last quarter. State Street Corp boosted its stake in Eli Lilly and Company by 1.7% in the second quarter. State Street Corp now owns 36,215,754 shares of the company's stock worth $43,438,262,000 after purchasing an additional 605,752 shares in the last quarter. Bank of America Corp DE acquired a new position in Eli Lilly and Company in the second quarter worth $13,522,666,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Eli Lilly and Company by 1.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,209,385 shares of the company's stock worth $8,647,153,000 after purchasing an additional 137,364 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Eli Lilly and Company by 7.9% during the second quarter. Jennison Associates LLC now owns 5,461,416 shares of the company's stock worth $6,550,587,000 after purchasing an additional 400,538 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

The company has a market capitalization of $1.33 trillion, a price-to-earnings ratio of 45.87, a price-to-earnings-growth ratio of 1.62 and a beta of 0.40. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.39 and a quick ratio of 1.00. The stock has a 50 day moving average price of $1,215.24 and a two-hundred day moving average price of $1,101.16.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The company reported $7.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.71 by $1.77. The business had revenue of $24.40 billion for the quarter, compared to the consensus estimate of $22.58 billion. Eli Lilly and Company had a net margin of 31.90% and a return on equity of 86.76%. The firm's quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.02 EPS. On average, analysts predict that Eli Lilly and Company will post 35.70 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, November 13th will be given a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Friday, November 13th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 22.46%.

About Eli Lilly and Company

Eli Lilly and Company is a global pharmaceutical company that discovers, develops, manufactures and markets medicines for people and animals. Its work spans areas including diabetes and obesity, cancer, immunology, neuroscience and pain management.

The company's medicines include treatments for diabetes and obesity, such as Mounjaro and Zepbound, as well as products for cancer and other conditions. Lilly also conducts research into new medicines and invests in the development of treatments across its therapeutic areas.

Founded in Indianapolis in 1876 by Colonel Eli Lilly, the company is headquartered in the city and serves patients in markets around the world.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.