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

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

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets increased their price objective on Eli Lilly and Company from $710.00 to $865.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Wells Fargo & Company boosted their target price on shares of 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. The Goldman Sachs Group increased their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Bank of America upped their price target on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, March 1st. Finally, DZ Bank cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price target for the company. in a report on Wednesday, February 21st. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $757.95.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $776.75 on Tuesday. Eli Lilly and Company has a 12-month low of $399.26 and a 12-month high of $800.78. The firm has a market capitalization of $738.04 billion, a price-to-earnings ratio of 133.92, a price-to-earnings-growth ratio of 1.61 and a beta of 0.34. The business has a 50 day simple moving average of $762.03 and a 200 day simple moving average of $669.96. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.94 and a quick ratio of 0.73.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Simon Quick Advisors LLC increased its holdings in shares of Eli Lilly and Company by 10.5% in the fourth quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock valued at $1,706,000 after purchasing an additional 278 shares in the last quarter. Clear Harbor Asset Management LLC bought a new position in shares of Eli Lilly and Company during the fourth quarter worth $363,000. Terril Brothers Inc. boosted its position in shares of Eli Lilly and Company by 113.2% during the fourth quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock worth $471,000 after purchasing an additional 429 shares in the last quarter. Hartline Investment Corp boosted its position in shares of Eli Lilly and Company by 1.1% during the fourth quarter. Hartline Investment Corp now owns 21,934 shares of the company’s stock worth $12,786,000 after purchasing an additional 248 shares in the last quarter. Finally, Meritage Portfolio Management boosted its position in shares of Eli Lilly and Company by 23.4% during the fourth quarter. Meritage Portfolio Management now owns 6,377 shares of the company’s stock worth $3,717,000 after purchasing an additional 1,208 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Company Profile

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.