Cantor Fitzgerald Believes Eli Lilly & Co (LLY) Won’t Stop Here

In a report released today, Louise Chen from Cantor Fitzgerald assigned a Buy rating to Eli Lilly & Co (NYSE: LLY), with a price target of $100. The company’s shares opened today at $89.57, close to its 52-week high of $89.97.

Chen noted:

“. We reaffirm our OW rating and $100 12-month PT for LLY’s stock after hosting a conference call with two endocrinologists who disagree on the outcome for LLY’s REWIND trial. We have previously spoken with four physicians, two of which we hosted for this call. Trulicity is one of Lilly’s largest assets. FactSet consensus shows a five-year CAGR for Trulicity (2018-23) of ~9.9%. Based on our calls, most of the physicians expect a positive outcome for REWIND. This could increase Rxs by 20-30% or by multiples of current sales, which leads us to believe that significant upside remains in the drug, if the doctors are right. We expect top-line data by year-end 2018, and a presentation at ADA in June 2019.”

According to TipRanks.com, Chen is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -3.6% and a 42.3% success rate. Chen covers the Healthcare sector, focusing on stocks such as Melinta Therapeutics Inc, Aclaris Therapeutics Inc, and Paratek Pharmaceuticals.

Eli Lilly & Co has an analyst consensus of Moderate Buy, with a price target consensus of $93.33, which is a 4.2% upside from current levels. In a report issued on July 13, Jefferies also maintained a Buy rating on the stock with a $100 price target.

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The company has a one-year high of $89.97 and a one-year low of $73.69. Currently, Eli Lilly & Co has an average volume of 3.67M.

Based on the recent corporate insider activity of 109 insiders, corporate insider sentiment is negative on the stock.

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Eli Lilly & Co. engages in the discovery, development, manufacture and sale of pharmaceutical products. It operates through two segments: Human Pharmaceutical Products and Animal Health.