Company Update (NYSE:LLY): Europe recommends lung cancer drugs from AstraZeneca, Lilly

[Reuters] – The European Medicines Agency said on Friday its experts had recommended marketing approval for lung cancer drugs developed by AstraZeneca Plc and Eli Lilly and Co, although approval for AstraZeneca’s … Read more on this. Eli Lilly and Company (LLY) , valued at $90.17B, opened this morning at $85.57. During today’s session, LLY traded between $83.36 to $85.98 with a one year range of $68.31 to $92.85. Priced at 25.06x this year’s forecasted earnings, LLY shares are relatively expensive compared to the industry’s -2.16x forward p/e ratio. The company pays shareholders $2.04 per share in dividend income per year, for a current yield of 2.39%. Consensus earnings for the current quarter by the 17 sell-side analysts covering the stock is an estimate of $0.78 per share, which would be $0.03 better than the year-ago quarter and a $0.00 sequential decrease. The full-year EPS estimate is $3.44 which would be a $0.66 improvement than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $5.33 Billion. If reported, that would be a 4.10% increase over the year-ago quarter. Recently, Berenberg Initiated LLY at Buy (Aug 27, 2015). Previously, Morgan Stanley downgraded LLY from Overweight to Equal-Weight. The average price target for LLY shares is $97.37, which is 13.79% above where the stock opened this morning. See more in (NYSE:LLY) Similar Articles: Market Update: Eli Lilly & Company (NYSE:LLY) – Panel recommends Merck & Co continue cholesterol drug study Company Update: Eli Lilly & Company (NYSE:LLY) – Lilly Statement on FDA Advisory Committee Review of Necitumumab Market Update: Eli Lilly & Company (NYSE:LLY) – FDA asks panel to weigh benefit, risk of Lilly lung cancer drug