What to Watch For When Eli Lilly Reports Tuesday Morning

Health and Healthcare

Published: November 5, 2018 11:25 am

Last Updated: January 11, 2020 3:22 pm

Eli Lilly and Co. (NYSE: LLY) is scheduled to release its most recent quarterly results before the markets open on Tuesday. Consensus estimates from Thomson Reuters are calling for $1.35 in earnings per share (EPS) and $6.05 billion in revenue. The third quarter of last year reportedly had $1.05 in EPS and $5.66 billion in revenue.

Recently, Eli Lilly announced a global licensing and research collaboration with Dicerna Pharmaceuticals focused on the discovery, development and commercialization of potential new medicines in the areas of cardio-metabolic disease, neurodegeneration and pain.

These companies will utilize Dicerna’s proprietary GalXC RNAi technology platform to progress new drug targets toward clinical development and commercialization. In addition, the partners will collaborate to move beyond the current technical paradigm in order to generate next-generation oligonucleotide therapeutic agents.

RNA interference (RNAi) is an emerging new approach to drug discovery, focused on a biologic process in which certain RNA molecules inhibit the expression of disease-causing genes by destroying the messenger RNAs of those genes.

Excluding Monday’s move, Eli Lilly has outperformed the broad markets, with the stock up about 28% in the past 52 weeks. In just 2018 alone, the stock is up only 26%.

A few analysts weighed in on Eli Lilly ahead of the report:

Credit Suisse has a Neutral rating.
Wolfe Research rates it at Market Perform with a $119 target.
Cantor Fitzgerald has a Buy rating with a $128 price target.
Barclays has an Overweight rating and a $120 price target.
Guggenheim has a Buy rating.
JPMorgan has a Buy rating with a $123 price target.
BMO Capital Markets rates it as Outperform with a $130 target.

Shares of Eli Lilly were last seen up more than 3% at $110.76, with a consensus analyst price target of $111.59. The stock has a 52-week trading range of $73.69 to $116.61.