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

Eli Lilly and Company (NYSE:LLY) had its price objective hoisted by JPMorgan Chase & Co. from $850.00 to $900.00 in a report issued on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

LLY has been the subject of a number of other reports. BMO Capital Markets lifted their price objective on Eli Lilly and Company from $710.00 to $865.00 and gave the stock an outperform rating in a research report on Wednesday, February 7th. Morgan Stanley lifted their price objective on Eli Lilly and Company from $805.00 to $950.00 and gave the stock an overweight rating in a research report on Friday, February 16th. Truist Financial lifted their price objective on Eli Lilly and Company from $850.00 to $892.00 and gave the stock 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. Finally, The Goldman Sachs Group lifted their price objective on 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. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $757.95.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $734.97 on Wednesday. The stock has a 50-day simple moving average of $761.75 and a 200 day simple moving average of $670.56. The company has a quick ratio of 0.73, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a 12-month low of $419.80 and a 12-month high of $800.78. The stock has a market capitalization of $698.52 billion, a price-to-earnings ratio of 108.24, a P/E/G ratio of 1.50 and a beta of 0.37.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Tuesday, April 30th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The business had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. During the same period in the previous year, the business posted $1.62 earnings per share. The firm’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, research analysts anticipate that Eli Lilly and Company will post 13.83 earnings per share for the current fiscal year.

Institutional Trading of Eli Lilly and Company

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new position in Eli Lilly and Company during the fourth quarter worth about $5,992,890,000. International Assets Investment Management LLC lifted its position in shares of Eli Lilly and Company by 61,268.8% in the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock valued at $42,802,530,000 after buying an additional 7,330,815 shares during the last quarter. Sapient Capital LLC bought a new position in shares of Eli Lilly and Company during the 4th quarter worth approximately $682,139,000. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Eli Lilly and Company during the 3rd quarter worth approximately $435,736,000. Finally, Vanguard Group Inc. raised its stake in 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 period. 82.53% of the stock is owned by institutional investors.

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.