Market Analysts see Eli Lilly and Company [LLY] gaining to $363. Time to buy?
Eli Lilly and Company [NYSE: LLY] It rose 4.85% or 14.39 points to close at $310.87 with a heavy trading volume of 5,884,770 shares. Company report on September 21 2022 That the Food and Drug Administration approves Lilly’s Retevmo® (selpercatinib), the first and only RET inhibitor for adults with advanced or metastatic solid tumors with RET Gene Fusion, regardless of type.
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Tumor-neutral data supporting approval showed an overall response rate (ORR) of 44% across multiple tumor types.
The U.S. Food and Drug Administration simultaneously grants conventional approval to adults with locally advanced or metastatic non-small cell lung cancer (NSCLC) with a RET gene fusion, as detected by an FDA-approved test.
The trading session opened at $300.80, and the shares rose to $312.61 and fell to $299.96, the range in which the share price has traded all day. LLY’s daily chart indicates that the company posted a gain of 9.39% over the past six months. However, it is still 41.18% lower than its recent low trade price.
If we look at the average trading volume of 2.56 million shares, LLY reached a volume of 5,884,770 on the last trading day, which is why market watchers consider the stock to be active.
Here’s what top stock market experts are saying about Eli Lilly and Company [LLY]:
Based on careful and fact-backed analysis by Wall Street experts, the current consensus on a target price for LLY shares is $344.66 per share. Target price analysis and stock performance are usually carefully studied by market experts, and the current Wall Street consensus for LLY stock is a set recommendation at 2.00. This rating represents a strong buy recommendation, on a scale of 1 to 5, where 5 means strong sell, 4 represents sell, 3 represents hold, and 2 indicates buy.
UBS made an estimate for Eli Lilly and Company stock, keeping their opinion of the stock as Buy, with their previous recommendation back on September 22, 2022. While those analysts held the previous recommendation, SVB Leerink raised its target price to Outperform. The new note about price target was released on May 23, 2022, which is the official target price for Eli Lilly and Company stock. Previously, the target price had another increase from $265 to $364, while Morgan Stanley maintained an overweight rating on LLY stock.
The Average True Range (ATR) for Eli Lilly and Company is set at 8.15, with the price-to-sales ratio for LLY stock in the past twelve months at 10.18. The price-to-book ratio for the last quarter was 32.76, with the price-to-cash per share for the same quarter set at 2.87. LLY’s free cash flow rate for the past 12 months was 121.77 with a Q4 quick ratio of 0.80.
LLY stock trading performance analysis
Eli Lilly and Company [LLY] Gains in the green at the end of last week, gained a positive trend and rose by 0.45. With this latest performance, LLY shares are down -1.34% over the past four-week period, as well as down 9.39% over the past six months — not to mention up 36.17% in the past year of trading.
Overbought and oversold stocks can be easily tracked by the Relative Strength Index (RSI), where an RSI result of over 70 is overbought, and any price below 30 indicates oversold conditions. The RSI of 50 represents neutral momentum in the market. The current RSI for LLY stock for the past two weeks is set at 50.73, with the RSI for the last one trading at 53.06, and the three-week RSI at 49.92 for Eli Lilly and Company [LLY]. The current moving average of the last 50 trading days for this stock is 314.84 while it recorded at 304.61 for the last trading week, and 288.39 for the last 200 days.
Eli Lilly and Company [LLY]A deeper look at fundamental analysis
Operating margin for any stock indicates how profitable the investment is, Eli Lilly and Company [LLY] The stock currently has an operating margin of +26.65 and a gross margin of +74.18. Eli Lilly and the company’s net margin is currently recorded at +19.71.
Return on equity rose to 76.35, with return on assets remaining at 11.70.
Eli Lilly and Company’s liquidity data is also interesting, with the quick ratio at 0.80 and the current ratio at 1.10.
Eli Lilly and Company [LLY]Earnings per share (EPS) analysis
The company’s progress can be seen through the perspective of the EPS growth rate, while Wall Street analysts focus on forecasting the 5-year EPS growth rate for LLY. When it comes to the stated value, analysts expect Eli Lilly and Company’s 5-year EPS growth rate to rise to 17.54%.
Internal Ownership Analysis at Eli Lilly and Company [LLY]
There are currently approximately $246,176 million, or 84.40% of LLY’s stock, in the hands of institutional investors. The three largest institutional owners of LLY shares are: LILLY ENDOWMENT INC with ownership of 104,161,053, which represents approximately -1.878% of the company’s market capitalization and approximately 11.00% of the total institutional ownership; VANGUARD GROUP INC, which owns 71,591,327 shares of stock with an approximate value of $22.26 billion in LLY stock; and BLACKROCK INC. , which currently owns $19.82 billion in LLY stock with ownership of approximately -0.382% of the company’s market capitalization.
Positions in Eli Lilly and Company shares held by institutional investors increased at the end of August and at the time of the August report, as 1,078 institutional owners consolidated their positions in Eli Lilly and Company [NYSE:LLY] About 34,582,517 shares. In addition, the number of 999 investors decreased by 31,519,632 shares, while 457 investors held positions by 725,790,111 shares. The said changes put institutional holdings at 791,892,260 shares, according to the latest report from the Securities and Exchange Commission. LLY had 207 new institutional investments for a total of 8,832,357 shares, while 81 institutional investors sold deals worth 1,058,679 shares during the same period.