Market Update: Eli Lilly & Company (NYSE:LLY) – Lilly’s Taltz® (ixekizumab) Receives U.S. FDA Approval for the Treatment of Moderate-to-Severe Plaque Psoriasis

[PR Newswire] – INDIANAPOLIS, March 22, 2016 /PRNewswire/ — Eli Lilly and Company (NYSE: LLY) announced today that the U.S. Food and Drug Administration (FDA) has approved Taltz ® (ixekizumab) injection 80 mg/mL for … Read more on this. Eli Lilly and Company (LLY) , with a current value of $75.90B, opened this morning at $70.21. A quick look at the market, the company’s stock traded between $70.16 and $72.24 with its 52-week range being $67.88 to $92.85. Lilly (LLY) shares are currently priced at 19.84x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -5.82x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $2.04 per share annually in dividends, yielding 2.88%. 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 $0.03 sequential decrease. The full-year EPS estimate is $3.54 which would be a $0.11 improvement than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $4.82 Billion. If realized, that would be a 3.88% increase over the year-ago quarter. More recently, BMO Capital Markets upgraded LLY from Market Perform to Outperform (Nov 13, 2015). Previously, Credit Suisse upgraded LLY from Neutral to Outperform. When considering if the stock is under or overvalued, the average price target is $95.52, which is 36.05% above where the stock opened this morning. See more in (NYSE:LLY) Similar Articles: 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 Company Update (NYSE:LLY): Ixekizumab Demonstrates Rapid, Clinically Meaningful Improvements as Early as One Week among Patients with Moderate-to-Severe Plaque Psoriasis 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