Stock Update (NYSE:LLY): Ixekizumab Demonstrates High Levels of Skin Clearance among Patients with Moderate-to-Severe Plaque Psoriasis Who Did Not Respond to Treatment with Etanercept

[PR Newswire] – INDIANAPOLIS, March 7, 2016 /PRNewswire/ — Eli Lilly and Company (LLY) announced today that patients with moderate-to-severe plaque psoriasis who did not respond to treatment with etanercept achieved significant improvement in their psoriasis plaques when treated with ixekizumab in a Phase 3 clinical trial. In UNCOVER-2, 64 percent (229/358) of patients treated with bi-weekly etanercept did not respond (static Physician’s Global Assessment score [sPGA] ≥2) to treatment at 12 weeks. This study’s co-primary efficacy endpoints at 12 weeks of ixekizumab therapy were PASI 75 and sPGA 0 or 1. Read more on this. Eli Lilly and Company (LLY) , currently valued at $77.48B, started the session at $73.17. A quick look at the market, the company’s stock traded between $72.80 and $73.95 with a one year range of $68.41 to $92.85. Lilly (LLY) shares are currently priced at 20.79x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -3.60x earnings multiple for the same period. The company pays shareholders $2.04 per share in dividend income per year, for a current yield of 2.77%. In a review of the consensus earnings estimate this quarter, 17 sell-side analysts are looking at $0.84 per share, which would be $0.03 worse than the year-ago quarter and a $0.02 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $3.54, which would be a $0.11 better when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $4.83 Billion. If realized, that would be a 4.09% increase over the year-ago quarter. In terms of ratings, BMO Capital Markets upgraded LLY from Market Perform to Outperform (Nov 13, 2015). Previously, Credit Suisse upgraded LLY from Neutral to Outperform. The average price target for LLY shares by the analysts covering it is $98.10, which is 34.07% above where the stock opened. See more in (NYSE:LLY) Similar Articles: Company Update (NYSE:LLY): Ixekizumab Demonstrates Rapid, Clinically Meaningful Improvements as Early as One Week among Patients with Moderate-to-Severe Plaque Psoriasis Market Update (NYSE:LLY): Lilly to Present Phase 3 Data at the American Academy of Dermatology (AAD) Annual Meeting for Ixekizumab in Psoriasis and Psoriatic Arthritis Stock Update: Eli Lilly & Company (NYSE:LLY) – Lilly and Incyte Announce Submission of New Drug Application to FDA for Oral Once-Daily Baricitinib for Treatment of Moderate-to-Severe Rheumatoid Arthritis