After UBS and BMO Capital gave Eli Lilly & Co (NYSE: LLY) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Louise Chen maintained a Buy rating on Eli Lilly & Co yesterday and set a price target of $143. The company’s shares closed on Friday at $123.06, close to its 52-week high of $132.13.
Chen wrote:
“. We expect LLY to report positive Phase 2 data for the drug to be approved in 2020, making it the first selective RET inhibitor on the market. There are no numbers in FactSet consensus, under LLY, yet, for LOXO-292, so positive data and/or an approval could drive upside to estimates. The opportunity for LOXO-292 supports our investment thesis and belief that LLY’s first-in-class pipeline is underappreciated. Therefore, we reiterate our OW rating and 12-month $143 PT for LLY shares. Join us on 4/16/19 at 1:30PM ET for a call to debate where LOXO-292 fits into the paradigm for RET-driven cancers. The dial-in is: 1 (888) 771-4371 and the passcode is: 48527743.”
According to TipRanks.com, Chen is a 5-star analyst with an average return of 11.2% and a 43.0% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Amneal Pharmaceuticals Inc, and Aridis Pharmaceuticals Inc.
Currently, the analyst consensus on Eli Lilly & Co is a Moderate Buy with an average price target of $133, representing an 8.1% upside. In a report issued on April 12, Barclays also maintained a Buy rating on the stock with a $140 price target.
See today’s analyst top recommended stocks >>
Based on Eli Lilly & Co’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $1.13 billion. In comparison, last year the company earned revenue of $5.7 billion and had a net profit of $1.22 billion.
Based on the recent corporate insider activity of 142 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
