JPMorgan Chase & Co. Increases Eli Lilly and Company (NYSE:LLY) Price Target to $900.00

Eli Lilly and Company (NYSE:LLY) had its price target upped by JPMorgan Chase & Co. from $850.00 to $900.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms have also issued reports on LLY. Morgan Stanley boosted their price objective on Eli Lilly and Company from $805.00 to $950.00 and gave the company an overweight rating in a research note on Friday, February 16th. Truist Financial increased their price target on shares of Eli Lilly and Company from $850.00 to $892.00 and gave the company a buy rating in a research report on Wednesday. TheStreet upgraded Eli Lilly and Company from a c+ rating to a b rating in a research report on Friday, March 8th. Erste Group Bank raised shares of Eli Lilly and Company from a hold rating to a buy rating in a research note on Wednesday, April 3rd. Finally, BMO Capital Markets increased their price target on shares of Eli Lilly and Company from $710.00 to $865.00 and gave the stock an outperform rating in a research note on Wednesday, February 7th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of Moderate Buy and an average target price of $757.95.

Eli Lilly and Company Price Performance

LLY stock opened at $776.75 on Wednesday. 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 has a 1 year low of $399.26 and a 1 year high of $800.78. The company’s 50-day moving average is $762.03 and its 200-day moving average is $669.96. The stock has a market capitalization of $738.04 billion, a PE ratio of 114.40, a price-to-earnings-growth ratio of 1.58 and a beta of 0.37.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 59.28% and a net margin of 17.08%. The business had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. During the same quarter in the previous year, the firm earned $1.62 earnings per share. The business’s revenue was up 26.0% on a year-over-year basis. Equities research analysts expect that Eli Lilly and Company will post 13.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Eli Lilly and Company

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Eli Lilly and Company by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after acquiring an additional 659,838 shares during the last quarter. Capital World Investors increased its holdings in Eli Lilly and Company by 0.3% during the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock worth $15,709,466,000 after purchasing an additional 89,720 shares during the period. Morgan Stanley boosted its stake in shares of Eli Lilly and Company by 0.7% during the third quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock valued at $6,738,605,000 after purchasing an additional 83,915 shares in the last quarter. Norges Bank bought a new position in Eli Lilly and Company in the fourth quarter worth approximately $5,992,890,000. Finally, Northern Trust Corp raised its position in shares of Eli Lilly and Company by 3.6% in the 3rd quarter. Northern Trust Corp now owns 10,158,275 shares of the company’s stock worth $5,456,314,000 after acquiring an additional 355,317 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

About Eli Lilly and Company

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.